Friday, June 24 2022 20:31

ArmInfo.At the end of 2021, the current investment portfolio of the Eurasian Development Bank (EDB) reached its maximum of USD 4.5 billion for all the years of its activity. This was announced at the meeting of the EDB Council held today.

It was noted that these results were achieved against the backdrop of  a general decline in business activity in the region. The increase  compared to 2020 was 2%. During the year, the Bank signed agreements  on 19 new projects. At the same time, the share of projects with an  integration effect in the current investment portfolio amounted to  59.6%. EDB's net profit for 2021 is $37.1 million, which is 2.1-fold  more than the planned value.

It was noted that in the conditions of extraordinary volatility, both  in the global and local financial and commodity markets at the  beginning of 2022, the EDB maintained a stable financial position and  opportunities to implement the tasks of the Strategy for 2022-2026.  The Bank intends to meet the target of new project signings.  Particular attention is planned to be paid to the development of  projects in Kazakhstan, Armenia, Tajikistan and the Kyrgyz Republic  within the framework of the developed 5-year country strategies.

Nikolai Podguzov, Chairman of the EDB Board, presented the  developments on key investment mega- projects in the Eurasian space  to the Council, headed by the Prime Minister of Kazakhstan, Alikhan  Smailov. It was noted that the Eurasian Transport Framework will  unlock the logistical potential of the entire region, providing an  increase in the speed and volume of transportation, their continuity  through the introduction of digital solutions, as well as the  cumulative effect of reducing the carbon footprint by 25% compared to  the sea route.

The formation of a single Eurasian commodity distribution network is  aimed at ensuring food security for more than 220 million people  living in the EAEU+ countries and increasing the volume of  agricultural production by 5-7% per year.