Opening Asia for Russia

The Eurasian Development Bank is ready to consider projects proposed by the EEC for subsequent financing

04.06.2020 36 просмотров

The EDB is ready to consider import substitution projects in the EAEU.

This was discussed during a working meeting between the Chairman of the Board of the Bank Andrey Belyaninov and the Minister for Industry and Agro-Industrial Complex of the Eurasian Economic Commission Artak Kamalyan.

Strategic goals of the EEC and The EDB largely coincides: the work is aimed at developing integration processes in the Eurasian space and ensuring the economic growth of states. This is especially relevant given the implementation of the Decree of the Eurasian Intergovernmental Council dated April 10, 2020, where the Bank is invited to intensify its activities in supporting union projects in the context of the coronavirus pandemic.

“Large cooperative projects in industry with a strong integration effect, providing for the creation of high value-added products,” said Artak Kamalyan.

“The Union Industrialization Map and the Union Agro-Industrialization Map proposed a list of the most promising cooperation projects. The implementation of joint projects of the Map will help avoid duplicating production on the territory of the EAEU and remove the risks of investing in projects,” the minister noted.

“The Eurasian Development Bank is ready to consider projects proposed by the EEC with a view to their subsequent financing. Today, industry accounts for about 22% of our current investment portfolio. I am sure there is room for growth here. Therefore, joint work with the EEC in this direction is extremely relevant,” Andrey Belyaninov emphasized.

He also noted that an important criterion in selecting projects for financing in the EDB is the integration effect that arises in in the course of their implementation.

Information and analytical work can become another area of cooperation with the EDB. The Bank will consider a proposal to take part in the preparation of the monitoring of industrial development and the analysis of certain priority sectors in the EAEU.

In addition, the meeting touched upon the inclusion of the EDB, along with commercial banks, in sectoral programs to support states and national development institutions. The parties agreed to discuss this issue at the site of the Council for Industrial Policy of the EAEU at the level of ministers of industry of the allied countries.

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