Ministry of Finance Discusses Financial Cooperation with Eurasian Development Bank
17 December 2024
As part of its efforts to strengthen the UAE’s strategic relations with regional and international financial institutions, the Ministry of Finance (MoF) hosted a high-level delegation from the Eurasian Development Bank (EDB) in Abu Dhabi to discuss ways to enhance financial cooperation and explore new opportunities for joint projects and investments that benefit both sides.
The meeting was attended by H.E. Younis Haji AlKhoori, Undersecretary of the MoF, and Ali Abdullah Sharafi, Acting Assistant Undersecretary for International Financial Relations at the MoF.
From the Eurasian Development Bank, the delegation included Nikolay Podguzov, Chairman of the EDB; Evgeny Vinokurov, Deputy Chairman and Chief Economist; Daniyar Imangaliev, Deputy Chairman; and Anna-Mariya Chkoniya, Managing Director and Head of the International Cooperation Department.
Areas of Cooperation
The discussions focused on areas of collaboration in infrastructure, alternative energy, and food and water security, aligning with the Bank's development objectives. Both sides also explored opportunities for joint financing of development projects and examined strategies for regional integration.
The meeting highlighted the important role of the Eurasian Development Bank in advancing economic development among member states and other partners.
Strengthening International Partnerships
H.E. Younis Haji AlKhoori said: “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 added: “We are keen to explore additional opportunities for collaboration with the Eurasian Development Bank, especially as it leads major investment projects and initiatives that promote regional integration. By leveraging our advanced economic development experience, we aim to support the aspirations of member countries and strengthen channels of partnership for mutual benefit.”
The Eurasian Development Bank consists of six member states: Armenia, Kazakhstan, Russia, Kyrgyzstan, Belarus, and Tajikistan, with an investment portfolio worth USD 15.3 billion.
The Bank prioritises sustainable development projects, particularly in infrastructure and clean energy, and maintains strong global credit ratings, reflecting its pivotal role in fostering regional integration and sustainable economic growth.
