Tuesday, October 1 2024 13:55

ArmInfo.During the III Eurasian Economic Forum, Sergey Ignatov, Senior Managing Director of  the Eurasian Development Bank (EDB), presented the Bank's main achievements and plans regarding transport connectivity in Eurasia. This area is one of the key priorities of the EDB in accordance with the Bank's Development Strategy for 2022-2026.

Ignatov's report was presented at the discussion "Transport  Connectivity of Eurasia: Image of the Future" during one of the key  panel sessions of the forum, which is taking place in Yerevan and is  dedicated to the 10th anniversary of the signing of the Treaty on the  Eurasian Economic Union (EAEU).

The EDB Senior Managing Director noted that the Bank is actively  implementing transport infrastructure development projects in  partnership with governments and other multilateral development  banks. Among such projects is the construction of the Big Almaty Ring  Road (BAKAD), which was commissioned in June 2023. Thanks to this  project, implemented with the involvement of funds from the EDB, the  European Bank for Reconstruction and Development, the Asian  Development Bank and the Islamic Development Bank, the transit time  of the transport hub of Kazakhstan's largest city, Almaty, has been  halved, and the delivery time of goods along the Europe - Western  China route has been reduced by an hour.

In addition, Ignatov emphasized the importance of projects that  provide additional connections and complementarity of transport  corridors in Eurasia, among which the project to build a new  Kazakh-Chinese border crossing and the Ayagoz-Bakhty railway line  stands out. This project has the potential to expand container  transportation capabilities on the China-Europe route and contributes  to the realization of the high transit potential of the EAEU  countries. "In 2024, the Bank published an analytical report in which  it outlined the priorities for the further development of the  Eurasian Transport Framework (ETF) and increasing economic and trade  connectivity in the region. The ETF is capable of increasing cargo  flows by 40% by attracting additional transit, creating a transport  crossroads in the region and acting as a safety net for global  logistics in the event of disruptions on deep-sea routes for the  delivery of goods between Europe and Asia," Ignatov noted.

According to the EDB Senior Managing Director, the Bank provides  technical assistance in preparing and structuring investment projects  through the FCS, which provides financial support to both potential  borrowers at the stage of preparing future projects and national  governments or organizations whose projects are aimed at developing  the institutional environment and promoting economic development and  growth. The Fund's resources are formed through deductions from the  Bank's net profit and funds raised from donors. In addition, the EDB  has a wide range of credit and non-credit products for PPP projects,  and also provides states with technical assistance in implementing  PPP legislative reforms, strengthening institutional mechanisms,  building up practical competencies in structuring bankable PPP  projects, and much more.

The business program of the III Eurasian Economic Forum includes  about 30 events. The main topics were the most pressing and popular  issues of integration processes in the EAEU. The event is aimed at  the participation of heads of large, medium and small businesses of  the member states and third countries, heads and representatives of  government bodies of the countries of the Eurasian region, as well as  heads and members of governments of third countries, representatives  of international, scientific and educational organizations interested  in developing cooperation within the Union. The Eurasian Development  Bank (EDB) is a multilateral development bank implementing investment  activities in the Eurasian space. For over 18 years, the EDB has been  promoting the strengthening and expansion of economic ties and the  comprehensive development of its member countries. The authorized  capital of the EDB is USD 7 billion.  The main share of the EDB  portfolio is occupied by projects with an integration effect in the  areas of transport infrastructure, digital systems, green energy,  agriculture, industry and mechanical engineering. In its activities,  the Bank is guided by the UN Sustainable Development Goals and the  ESG principles.