Prime Minister Olzhas Bektenov of the Republic of Kazakhstan recently presided over the Council meeting of the Eurasian Development Bank (EDB), marking a pivotal moment in the bank's ongoing commitment to regional development and sustainability.
The meeting, held as part of the EDB's Annual Meeting, focused on reviewing the bank’s achievements in 2023 and outlining strategic directions for future multilateral initiatives.
Nikolay Podguzov, Chairman of the EDB Board, highlighted the bank’s achievements in maintaining financial stability and reinforcing its pivotal role as a leading development institution within its operational region. In 2023, the EDB recorded a milestone with investments totaling $1.7bn, stressing its proactive approach to fostering economic growth across member countries.
A notable aspect of the EDB’s operations in 2023 was its intensified focus on sustainable investments, particularly in green projects. By year-end, the bank's green investment portfolio surpassed $600mn, reflecting a robust commitment to environmentally responsible development practices. Podguzov also emphasized that the EDB exceeded expectations in implementing its 2022-2026 Strategy, achieving a 140% indicator for investments over the initial two-year period.
Over its 18-year history, the EDB has amassed a substantial investment portfolio amounting to $14.7bn across 285 projects. Key sectors benefiting from EDB initiatives include transport infrastructure, digital systems, green energy, agriculture, industry, and mechanical engineering, all of which contribute to regional integration and economic diversification.
Established as an international financial institution, the EDB plays a crucial role in promoting economic cooperation and comprehensive development across the Eurasian space. With an authorized capital of $7bn, the bank aligns its activities with the UN Sustainable Development Goals and principles of Environmental, Social, and Governance (ESG) criteria, ensuring that its investments contribute to long-term sustainable outcomes.
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