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The Eurasian Development Bank loans are wanted

Andriy Klyuyev the first vice-premier - Minister of Economic Development and Trade of Ukraine has been authorized by the Cabinet of Ministers to appeal to the Eurasian Development Bank. The corresponding draft decree of the President of Ukraine has been approved by the Government.

According to the Deputy Prime Minister press service the document is the subject of Ukraine intention to accede to the Establishment Agreement of the Eurasian Development Bank.

Necessary steps for Ukraine to join the EDB are sending of an appeal letter of intention to accede to the Establishment Agreement of the Eurasian Development Bank dated 12 January 2006.

A decision will be accepted by the Board of the Bank with a subsequent accession to the Agreement by ratifying it.

"Ukrainian participation in the EDB will provide real economic benefits in attraction of additional financial resources for investment projects and to deepen cooperation with the states who participate in the Bank", - announces the press service of the First Deputy Prime Minister.

The Eurasian Bank for Development - an international financial institution founded by the Russian Federation and Kazakhstan in January 2006 which membership enlarged with Belarus, Tajikistan and Armenia in 2009.

The activities of the EDB is based on the standards of international financial organizations, and the main purpose of the Bank is promoting development and integration of member countries through investment in priority projects and development of their trade and economic ties. Compared with other international financial organizations, projects of the industrial sector are the most of significant proportion of its loan portfolio.

28 September 2011
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