Kazakhstan’s share in EDB authorized capital increases to 37.3%
Kazakhstan’s share in the authorized capital of the Eurasian Development Bank has increased from 33 to 37.3 percent, as announced during a regular council meeting of the financial institution in Astana. The meeting agenda included issues related to the EDB activities. Last year, its investment portfolio reached a record $13.4 billion. A number of new projects worth $2.5 billion have been signed so far. As noted by Nikolai Podguzov, the Head of the Eurasian Development Bank, the total number of projects of the financial institution reached 273, all of which are aimed at improving living standards in the member states, as well as investing in infrastructure facilities. Kazakh Prime Minister Alikhan Smailov highlighted the need to further focus on two aspects, including risk management and maintaining the EDB’s credit rating. It was also reported that Uzbekistan may become a new member of the Eurasian Development Bank, which will make it possible to work out all the possibilities for launching new integration projects.