ArmInfo.The Eurasian Development Bank (EDB), within the framework of a loan from The Export-Import Bank of China (Eximbank of China), attracted 1.5 billion yuan (about 230 million US dollars) to finance cross-border transactions between the PRC and member countries of the Bank, namely Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan. The corresponding agreement was signed on November 16, 2020. The credit line was provided for 5 years. The press service of the bank reports.
"This is the EDB's first experience in raising finance in the Chinese market. The deal with Eximbank is the result of constant work to increase the availability of medium and long-term borrowings in the capital markets from the largest players. Ultimately, this allows the Eurasian Development Bank to provide favorable conditions for the implementation of development and integration projects in our countries, "said Nikolay Podguzov, Chairman of the EDB Board.
This year, the EDB has placed 2 issues of ruble bonds totaling 15 billion rubles and 1 issue of bonds in the national currency of Kazakhstan in the amount of 40 billion tenge. In order to finance its project activities, the EDB also attracted financing from other creditors in the aggregate amount of more than USD 110 million in equivalent.
