Eurasian Development Bank
 |
|
| Formation | 12 January 2006 |
|---|---|
| Type | International organization |
| Legal status | Treaty |
| Purpose | Crediting |
| Headquarters | Almaty, Kazakhstan |
|
Region served
|
Eurasia |
|
Membership
|
6 countries |
| Website | http://www.eabr.org |
The Eurasian Development Bank (EDB) is a regional development bank established by the Russian Federation and the Republic of Kazakhstan in 2006. The Bank currently has six member states, including Armenia, Belarus, Kyrgyzstan and Tajikistan. Other states and international organisations are able to become members by signing up to the Bank’s founding Agreement.
EDB was founded on the initiative of the Presidents of Russia and Kazakhstan formalised by the signing of an International Agreement on 12 January 2006.
The Bank began operating in June 2006 when laws ratifying the Agreement came into force. Armenia and Tajikistan joined EDB in 2009, Belarus in 2010, and Kyrgyzstan in 2011.
The Bank's mission is to facilitate, through its investment activity, the development of market economies, economic growth and the expansion of trade and other economic ties in its member states.
The Bank’s charter capital totals US $7 billion, including US $1.5 billion of paid-in capital and US $5.5 billion of callable capital. The member states hold the following shares in the Bank’s capital: the Russian Federation 65.97%, the Republic of Kazakhstan 32.99%, the Republic of Belarus 0.99%, the Republic of Tajikistan 0.03%, the Republic of Armenia 0.01%, and the Kyrgyz Republic 0.01%.
EDB’s operations are governed by international law. As such the Bank:
The Bank’s headquarters is located in Almaty, Kazakhstan.
EDB has a branch in St. Petersburg and representative offices in Astana, Bishkek, Dushanbe, Yerevan, Minsk, and Moscow.
The Bank has the status of an international organisation. In January 2013, the Organisation for Economic Cooperation and Development (OECD) recognised EDB as a multilateral financial institution with risk classification 3 and buyer risk classification SOV/CC0.
EDB has had observer status at:
EDB is:
Under EDB’s Strategy for 2013–2017, approved by the EDB Council on 2 July 2014, EDB aims to build on the success it has achieved so far and to enhance its role in furthering the process of integration in the region.
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