YEREVAN, July 23. /ARKA/. The Eurasian Development Bank (EDB) has established a Directorate for Digital Initiatives, whose work is supervised by Tigran Sargsyan, Deputy Chairman of the EDB Management Board.

As reported on the EDB website, the main task of the Directorate is to support the activities of the Digital Initiatives Fund, which was established at the last meeting of the Bank's Council on June 30, 2020.

The purpose of the Fund is to assist the EDB member states in shaping digital transformation tools and practices by integrating their information resources and participating in the development and financing of projects, including those implemented as part of the Main Directions of the Digital Agenda of the Eurasian Economic Union until 2025.

“The work of the Digital Initiatives Fund of the Eurasian Development Bank is moving into a practical plane. The initial contribution in the amount of USD10 million has been formed from the retained earnings of the EDB of the past years,” Sargsyan said.

In his words, in the near future a specialized section with detailed information will appear on the Bank's website. "By the beginning of September, we will complete the work on the program of the Fund. Our shareholders are already putting forward their initiatives," the EDB Deputy Chairman said.

The Eurasian Development Bank (EDB) is an international financial institution established by Russia and Kazakhstan in January 2006 with the aim of promoting the development of market economies of the member states, their sustainable economic growth and expansion of mutual trade and economic ties.
The authorized capital of the EDB is $ 7 billion. 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—