Opening Asia for Russia

EDB launches "Subsidizing Interest Rate on Investment Projects"

09.09.2020 245 просмотров

EDB starts subsidizing its own interest rate.

The Eurasian Development Bank (EDB) has launched a new program of the Technical Assistance Fund - "Subsidizing the interest rate on investment projects", which allows to compensate for part of the costs of borrowers to pay interest on the Bank's loans.

New investment projects of the Bank can participate in the subsidy program. The criteria for granting loan subsidies approved by the Board of the Bank are quite broad and largely coincide with the principles by which the EDB selects projects for its own financing. The level to which the rate will be reduced is determined in each specific case by the Board of the Bank based on the parameters of the project.

“In accordance with the principles of the work of the Eurasian Development Bank, profit is not the goal of our organization. The main thing is the development and integration of our countries - Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan. Therefore, it is logical that we use the money we earn through the Technical Assistance Fund to increase the availability of our financing in the interests of creating a multiplier effect for investment activities. Thus, we are increasing our activity to promote the development of economies and improve the living standards of the citizens of the participating states,” said Nikolay Podguzov, Chairman of the Board of the Eurasian Development Bank.

The EDB Technical Assistance Fund was established to provide effective support fulfillment by the Bank of its mission by financing activities for the preparation and implementation of investment projects, ensuring regional integration programs, conducting interstate, country, sectoral and innovative studies aimed at economic growth, the formation and development of a market economy, expanding trade and economic ties between them, as well as other activities related to the activities of the Bank.

The Fund's resources are formed from deductions from the EDB's net profit for the calendar year and attracted funds from donors. Currently, three programs of the Fund are being implemented: "Technical assistance in the preparation of investment projects", "Technical assistance in expanding the Bank's investment activities", "Subsidizing the interest rate on investment projects".

Новости партнёров

Subscribe to Big Asia Newsletters

Subscribe and don't miss exclusive news