EDB, Development Bank of Belarus sign memo of understanding
St. PETERSBURG. KAZINFORM Andrey Beliyaninov, Chairman of the Management Board at the Eurasian Development Bank (EDB), and Andrei Zhishkevich, Chairman of the Management Board at the Development Bank of the Republic of Belarus, signed a memorandum of understanding in the sidelines of the St. Petersburg International Economic Forum, EDB informs on its website.
The parties intend to jointly finance the most capital-intensive investment, transport and infrastructure projects of social importance. In particular, they plan to jointly promote goods and services offered by Belarusian producers in the EDB member states' markets.
The banks also expect to develop treasury transactions in the foreign exchange and monetary markets, including interbank loans and derivatives (swaps).
The Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The EDB's charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.