Prime Minister Alikhan Smailov held a regular meeting of the Eurasian Development Bank (EDB) Council, which reviewed the results of its work over the past year and discussed topical issues of current activities, El.kz cites primeminister.kz.
Nikolai Podguzov, Chairman of the EDB Board noted that in 2022 the Bank strengthened its role as a leading institution for development in Eurasia, which is confirmed by the significant growth of investment in its projects. Thus, the accumulated investment portfolio reached $13.4 billion, with new projects worth $2.5 billion signed, which was a record and significantly exceeded the plans for the reporting period. Thus, the total number of Bank projects aimed at improving the living standards of the citizens of the member countries, reached 273.
The Prime Minister stressed that last year the EDB did a good job. However, during the further implementation of development projects, special attention should be paid to risk management and maintaining the credit rating values of the Bank.
"The volume of investments increased by almost $1 billion compared to the previous year. The current investment portfolio continues to grow. We need to continue to work on sustainable development of the Bank and, accordingly, the financing of projects in member countries," Alikhan Smailov said.
The Council was also informed that on June 28, decisions on redistribution of authorized capital between member-states were fully executed. As a result, part of Russia's stake in the paid authorized capital was evenly redistributed among the other participating states. As a result, Russia's stake fell from 66% to 44.8% and the stake of Kazakhstan increased from 33% to 37.3%.
The Prime Minister stressed that last year the EDB did a good job. However, during the further implementation of development projects, special attention should be paid to risk management and maintaining the credit rating values of the Bank.
"The volume of investments increased by almost $1 billion compared to the previous year. The current investment portfolio continues to grow. We need to continue to work on sustainable development of the Bank and, accordingly, the financing of projects in member countries," Alikhan Smailov said.
The Council was also informed that on June 28, decisions on redistribution of authorized capital between member-states were fully executed. As a result, part of Russia's stake in the paid authorized capital was evenly redistributed among the other participating states. As a result, Russia's stake fell from 66% to 44.8% and the stake of Kazakhstan increased from 33% to 37.3%.