ArmInfo.On 30 December 2022, the Council of the Eurasian Development Bank (EDB) unanimously approved a redistribution of the Bank's charter capital among its member states. According to the Bank's press service, a portion comprising 321,151 shares held by the Russian Federation in the Bank's paid-in capital has been evenly distributed among the other member states and, as a result, the Russian Federation's stake in the EDB has decreased from 65.9761% to 44.7878%.
After redistribution, the other EDB member states will have the following shares in its capital: the Republic of Kazakhstan 37.2865%, the Republic of Armenia 4.2291%, the Kyrgyz Republic 4.2291%, the Republic of Belarus 5.2121%, and the Republic of Tajikistan 4.2555%. In accordance with the EDB's Charter, Council members have obtained necessary authorisations and/or governmental resolutions to vote on this matter.
Earlier the founders of the Bank of Russia owned 65.97% of shares, Kazakhstan - 32.99%, Belarus - 1%, and Tajikistan, Armenia and Kyrgyzstan even less.
The Eurasian Development Bank (EDB) is an international financial institution investing in Eurasia. For more than 16 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries - Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan. The EDB's charter capital totals US $7 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing, and mechanical engineering. The Bank's operations are guided by the UN Sustainable Development Goals and ESG principles.
