EDB plans to invest in projects in Uzbekistan

Tashkent, Uzbekistan (UzDaily.com) -- Eurasian Development Bank (EDB) plans to open its representative office in Uzbekistan, RIA Novosti reported quoting a statement of the deputy chairman of the bank Andrei Krainy.

According to him, the bank is going to invest actively in projects in Uzbekistan in the near future. He noted that this is part of the EDB medium-term strategy.

The EDB Deputy Chairman of the Board, Andrei Krainy, said that the bank plans to work in the agricultural sector, industry and mining.

“Uzbekistan is not yet a member of the EDB - the competence of such a decision is at the government level,” he said.

The EDB was established by Russia and Kazakhstan in January 2006 with the aim of promoting the development of the market economies of the member states, their sustainable economic growth and the expansion of mutual trade and economic ties.

In 2009, Armenia and Tajikistan, in 2010 —Belarus, and in 2011 - Kyrgyzstan became full participants of the Bank. The authorized capital of the bank is US$7 billion.