At a meeting of the Eurasian Development Bank (EDB) Council following the 2022 results, it became known that the redistribution of authorized capital among member states has been completed. Russia’s share in the authorized capital decreased by a third from 66% to 44.8%, Kazakhstan increased from 33% to 37.3%.
According to the Kazakhstan government press service, the procedure was carried out according to the original plans (in August 2022, Bloomberg wrote about intentions to reduce its stake so that the bank would not be subject to sanctions), and the block of shares of the Russian Federation will be distributed evenly among the other participating states.
During the meeting, EDB leaders also noted that the bank’s cumulative investment portfolio significantly exceeded forecast figures and reached $13.4 billion, a record for a lending institution.
$2.5 billion of these funds were raised through new projects. The total number of such projects “aimed at improving the standard of living of the citizens of the participating countries” is 273.
Author:
Ekaterina Alipova
Source: RB
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