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PM Askar Mamin elected Chair of Eurasian Development Bank Council

29 May 2019 20:35

NUR-SULTAN. KAZINFORM The Council of the Eurasian Development Bank elected Prime Minister Askar Mamin as the Council's Chair, according to primeminister.kz.

The PM chaired a meeting of the Council of the Eurasian Development Bank.

Those attending the meeting were the members of the Council: First Deputy Prime Minister of Russia - Minister of Finance Anton Siluanov, First Deputy Prime Minister of Kazakhstan - Minister of Finance Alikhan Smailov, Deputy Prime Minister of the Republic of Armenia Mher Grigoryan, Minister of Finance of the Republic of Belarus Maksim Yermolovich, Minister of Finance of the Kyrgyz Republic Baktygul Jeenbaeva and Minister of Finance of the Republic of Tajikistan Faiziddin Qahhorzoda.

The meeting summed up the results of the Bank's activity in 2018. The participants discussed the implementation of integration projects aimed at facilitating trade and economic relations as well as investment activities among the member states of the Eurasian Economic Union.

At present, the Bank's portfolio contains 85 projects worth $3.5 billion. About 40% of all projects are implemented in Kazakhstan. In 2018, the EDB approved 29 new projects totaling $1.4 billion, including modernization of production processes of Bogatyr Komir LLP worth €197 million in Pavlodar region, construction of Nur Zholy automobile checkpoint worth 32 billion tenge in Almaty region, construction of a hydroelectric power station worth 22 billion tenge in Turkestan region. In 2019, the construction of a wind power plant near the city of Yereymentau with a capacity of 50 MW will be financed.
In March 2019, Standard & Poor's international agency upgraded the credit rating of the Eurasian Development Bank to "BBB."

Askar Mamin noted that the EDB is contributing to the development of cooperation among the member states of the Eurasian Economic Union and the financing of joint projects.

"The overall task is to increase the efficiency of our integration investment projects," said Mamin.

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