EDB and EBRD sign a memorandum of understanding

23.12.2015 18:40
EDB and EBRD sign a memorandum of understanding

YEREVAN, December 23. /ARKA/. Last week a delegation of Eurasian Development Bank (EDB) headed by Chairman of the Management Board Dmitry Pankin had negotiations with the Eurasian Bank for Reconstruction and Development (EBRD) on expanding cooperation between the two institutions in project activities, and the exchange of experience and expertise, EDB said in a statement, posted on its official webpage. It said the parties signed a memorandum of cooperation, which sets forth the main areas for cooperation in the EDB and EBRD member states.

In particular, the memorandum lays the foundation for strategic and operative cooperation between the parties, aimed at expanding joint work in the areas of mutual interest such as transport, energy and infrastructure modernization. The parties also plan to jointly select projects for co-finance, undertake research, and share experience in project fulfillment.

As part of the visit, EDB representatives had working meetings on risk management, investment in industries, infrastructure, energy, equity, and procurement.

The European Bank for Reconstruction and Development was established in 1991. The EBRD’s purpose is to foster the transition towards open market-oriented economies and to promote private and entrepreneurial initiative. The EBRD is owned by 64 countries, the European Union and the European Investment Bank.

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 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. -0-

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