Prime Minister Smailov holds meeting of EDB Council in Astana

ASTANA. KAZINFORM Prime Minister Alikhan Smailov has held a regular meeting of the Council of the Eurasian Development Bank, which discussed the results of the EDB’s work in 2022 and the relevant issues of its current activity, Kazinform learned from the government’s press office.

Taking the floor, Chairman of the EDB Management Board Nikolay Podguzov said that in 2022 the Bank strengthened its role as a leading development institution on the Eurasian space which is proved by a significant rise of investments in its projects. According to him, the total number of the Bank’s projects aimed at improving lives of member states' citizens has reached 273.

Alikhan Smailov praised the EDB’s work in 2022, but pointed out the importance of focusing on risk management and maintaining the Bank’s credit rating.

«The volume of investments rose almost by 1 billion US dolars compared to the previous year. The EDB’s investment portfolio keeps growing. We need to work further on sustainable development of the Bank and financing the projects in member countries,» Alikhan Smailov said.

The EDB Council was also informed about fulfilment of the decisions on redistribution of the charter capital between the member countries. As a result, a part of Russia’s shares in paid-in nominal capital was equally distributed between the member countries. So, the share of Russia reduced from 66% to 44.8%, and the share of Kazakhstan rose from 33% to 37.3%.

Besides, the Council was informed about the talks with Uzbekistan on joining the EDB.

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