The Eurasian Development Bank summed up the results of the year

Compared to the results of 2018, the growth was 18%, which is $621 million. The balance sheet portfolio increased by more than a quarter, and amounted to $2 billion 730 million . Profit for the year is expected at the level of 62.5 million dollars, which is two times higher than planned. In total, in 2019, 23 new investment projects were signed for a total of $1 billion 179 million. The sectoral structure of signings was dominated by projects in the energy, infrastructure and financial sectors. 



“The most significant for us in 1919 was the project of the Kyzylorda-Nursultan (Astana) gas pipeline,” Andrey Belyaninov said,< /b> Chairman of the Board of the Eurasian Development Bank. “In six months, the builders, demonstrating incredible pace, laid 1,061 kilometers of pipe using all the latest technologies.” 

The country structure of the Bank's investment portfolio is dominated by projects in Russia (42.8%) and Kazakhstan (42%) . 11.2% falls on Belarus, 2.3% - Armenia, 1.6% - Kyrgyzstan, 0.1% - Tajikistan. According to Andrey Yuryevich, the share of projects in national currencies has increased by 1.8 times over 4 years and now stands at 55% in relation to projects financed in dollars and euros. The ruble and tenge were the most popular. 



“Both we and experts at various levels said that the share of settlements in national currencies would grow - this is already confirmed in practice. In the outgoing 19th year, Kazakh tenges are leading, they are like that. The currency turned out to be in demand in those projects in which we participate,” the head of the EDB specified.

Also, one of the significant events was the relocation of the EDB office in Kazakhstan. Now the headquarters of the international bank will be located in Nur-Sultan, at the site of the Astana financial center. The official opening of the office will take place in December.



“This is a financial center, other financial institutions are concentrated there,” says Andrey Belyaninov. -  We have plans with the administration of the Financial Center to intensify financial interactions and funding in different currencies. This is modern in relation to all activities of the bank.”

The bank plans for 2020 to increase the number of shareholders. At the Eurasian Economic Integration conference, Hungary and Moldova have already expressed their intention to join the EDB. Negotiations on this issue are now expected. 



Andrey Yurievich shared his strategic plans for cooperation with China: “We would like to navigate in the Chinese stock market. I said that the Chinese rating agencies gave us high ratings. We would like to be funded in yuan, because there is a demand. We would like to develop such a currency pair as: ruble-yuan, tenge-yuan. There is a demand for them too. And take part in joint projects with Chinese financial institutions that exist in our Eurasian space.”

EDB is an international financial organization established by Russia and Kazakhstan in January 2006 to promote the development of the market economy of the member states , their sustainable economic growth and expansion of mutual trade and economic ties. The member states of the bank are also Armenia, Belarus, Kyrgyzstan and Tajikistan. The authorized capital of the bank is $7 billion.