Prime Minister of the Republic of Kazakhstan Alikhan Smailov chaired a meeting of the Council of the Eurasian Development Bank on June 24 in Nur-Sultan, where the results of the bank's work in 2021 were approved.

Thus, last year the bank signed agreements on 19 new projects. At the same time, the share of projects with an integration effect in the current investment portfolio amounted to 59.6%. The net profit of the EDB for 2021 is $37.1 million, which exceeds the planned value by 2.1 times.

It was noted that in the conditions of volatility, both in the global and local financial and commodity markets, at the beginning of 2022, the EDB maintained a stable financial position and opportunities to implement the objectives of the Strategy for 2022-2026.

At the same time, the EDB intends to meet the target of new signings on projects. Particular attention is planned to be paid to the development of projects in Kazakhstan, Armenia, Tajikistan and Kyrgyzstan within the framework of the developed 5-year country strategies.

“The activities of the bank should be clearly adjusted in accordance with current realities and aimed at helping the countries of the Eurasian region in ensuring further economic growth and expanding trade and economic ties,” said Alikhan Smailov, Chair of the Council, Prime Minister of the Republic of Kazakhstan.

In addition, the participants of the meeting considered the reports of the Audit Commission and the internal audit service of the bank, as well as a number of other issues.

On the eve of the Council meeting, Nikolai Podguzov, Chairman of the Board of the EDB, presented to Alikhan Smailov the developments on key investment mega-projects in the Eurasian space.

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The Eurasian Development Bank is an international financial organization that carries out investment activities in the Eurasian space. For more than 15 years, the EDB has been helping to strengthen and expand economic ties and the comprehensive development of its member countries. The authorized capital of the EDB is 7 billion US dollars. The main share in the EDB portfolio is occupied by projects with an integration effect in the areas of transport infrastructure, digital systems, green energy, agriculture, industry and engineering. In its activities, the Bank is guided by the UN Sustainable Development Goals and ESG principles.