Three banks serving Asia in talks on collaborative projects

By William Gullotti

Buffalo, N.Y., Nov. 3 – Kazakhstan’s Eurasian Development Bank (EDB) reported holding consultations with Asian Development Bank (ADB) on cooperation in energy and infrastructure projects, also discussing with Export-Import Bank of India the scope for using national currencies in international settlements, according to a press release on Thursday.

The ADB operates in four of the six EDB member countries: Armenia, Kazakhstan, Kyrgyzstan and Tajikistan. The financial institutions have similar targets for the next strategic period to promote the sustainable development of their member countries and to increase the share of ESG projects in their investment portfolios.

“Our institutions could cooperate in a number of areas that have a major impact on the development of the Eurasian countries. These include climate change and a green economy as well as fostering sustainable, balanced and inclusive growth and the development of entrepreneurship and the private sector. We believe that the priority areas for cooperation are the joint implementation of sustainable development projects in the fields of renewable energy, energy efficiency, infrastructure, and water management,” said Nikolai Podguzov, chairman of the EDB management board.

The meetings took place on the sidelines of the 45th annual meeting of the Association of Development Financing Institutions in Asia and the Pacific.

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