{"id":250882,"date":"2023-04-25T15:43:29","date_gmt":"2023-04-25T15:43:29","guid":{"rendered":"https:\/\/armbanks.am\/2023\/04\/25\/250882\/"},"modified":"2023-04-25T15:43:29","modified_gmt":"2023-04-25T15:43:29","slug":"armenian-parliament-ratifies-agreement-on-purchase-of-part-of-russias-share-in-authorized-capital-of-eurasian-development-bank","status":"publish","type":"post","link":"https:\/\/armbanks.am\/en\/2023\/04\/25\/250882\/","title":{"rendered":"Armenian parliament ratifies agreement on purchase of\u00a0part of\u00a0Russia\u2019s share in authorized capital of\u00a0Eurasian Development Bank"},"content":{"rendered":"\n<p><strong>YEREVAN, April 25. \/ARKA\/. <\/strong>The Armenian parliament has ratified today a bill on ratification of the intergovernmental agreement between Armenia and Russia on the purchase and sale of the Russian Federation&#8217;s share in the paid-up authorized capital of the Eurasian Development Bank (EDB).<\/p>\n\n\n\n<p>Russia&nbsp;lost its majority stake in the Eurasian Development Bank after the Board of the Kazakhstan-based bank approved a redistribution of member states\u2019 shares in January 2023.<\/p>\n\n\n\n<p>Russia\u2019s share in the EDB was to be reduced to less than 45%, while the remainder of its shares were to be equally distributed among the other member states.<\/p>\n\n\n\n<p>Before the decision of the bank&#8217;s Board, about 66% of the EDB&#8217;s authorized capital belonged to Russia, about 33% &#8211; to Kazakhstan, and 1% &#8211; to Belarus. Tajikistan, Armenia and Kyrgyzstan&nbsp;had small stakes.<\/p>\n\n\n\n<p>After acquiring 64,000 shares of the EDB worth $64 million, Armenia&#8217;s share in EDB is expected to amount to 4.22%.<\/p>\n\n\n\n<p>The authorized capital of EDB is $7 billion. Armenia became a full member of EDB in April 2009. Armenia&#8217;s share in the capital of the bank is $100,000, equal to 07% of its shares. The value of each share is $1,000 (equals one vote).<\/p>\n\n\n\n<p>Currently the volume of EDB&#8217;s investment portfolio stands at $13.4 billion, of which $484.2 million were provided to Armenian government and private companies for implementation of 23 projects.<\/p>\n\n\n\n<p>The EDB is a development bank set up by Russia, Belarus and Kazakhstan in 2006 to finance big cross-border projects that integrate the economies of the member states more closely.<\/p>\n\n\n\n<p>The redistribution of EDB shares held by Russia was approved by EDB\u2019s shareholders and governments of the bank\u2019s member states but it has to be ratified by member states.-0-<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Armenian parliament has ratified today a bill on ratification of the intergovernmental agreement between Armenia and Russia on the purchase and sale of the Russian Federation&#8217;s share in the paid-up authorized capital of the Eurasian Development Bank (EDB)<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","tstyn_error":""},"categories":[9214,9216],"tags":[],"class_list":{"0":"post-250882","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-banks-en-en","7":"category-news"},"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/250882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/comments?post=250882"}],"version-history":[{"count":0,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/posts\/250882\/revisions"}],"wp:attachment":[{"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/media?parent=250882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/categories?post=250882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/armbanks.am\/en\/wp-json\/wp\/v2\/tags?post=250882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}