Ministry Of Finance Engages With Eurasian Development Bank To Enhance Financial Cooperation

The Ministry of Finance (MoF) recently welcomed a delegation from the Eurasian Development Bank (EDB) in Abu Dhabi. The meeting aimed to boost financial cooperation and explore joint projects and investments that would benefit both parties. Younis Haji AlKhoori, Undersecretary of the MoF, and Ali Abdullah Sharafi, Acting Assistant Undersecretary for International Financial Relations at the MoF, were present.

The EDB delegation included Nikolay Podguzov, Chairman; Evgeny Vinokurov, Deputy Chairman and Chief Economist; Daniyar Imangaliev, Deputy Chairman; and Anna-Mariya Chkoniya, Managing Director and Head of the International Cooperation Department. Discussions centred on infrastructure, alternative energy, and food and water security projects.

Both sides explored joint financing opportunities for development projects and strategies for regional integration. The EDB's role in advancing economic development among member states was highlighted. AlKhoori emphasised the UAE's commitment to fostering international partnerships for sustainable global development.

AlKhoori stated, "This meeting reaffirms the UAE's commitment to fostering international partnerships aimed at achieving sustainable development on a global scale. With its leadership in infrastructure, clean energy, and food and water security, the UAE is dedicated to building effective bridges of cooperation with the Eurasian Development Bank to create opportunities that enhance strategic partnerships and contribute to positive economic and social impact aligned with global development ambitions."

He further added that they are eager to explore more collaboration opportunities with the EDB. The focus is on major investment projects promoting regional integration. By leveraging their advanced economic development experience, they aim to support member countries' aspirations and strengthen partnership channels for mutual benefit.

The EDB comprises six member states: Armenia, Kazakhstan, Russia, Kyrgyzstan, Belarus, and Tajikistan. It has an investment portfolio valued at US$15.3 billion. The Bank prioritises sustainable development projects in infrastructure and clean energy while maintaining strong global credit ratings.

This meeting underscored the EDB's pivotal role in fostering regional integration and sustainable economic growth among its members. Both parties are keen on enhancing strategic partnerships that align with global development goals.

With inputs from WAM