The Asian Development Bank (ADB) has signed a USD 1 billion framework agreement with the Eurasian Development Bank (EDB) to expand their cofinancing activities in Armenia, Kazakhstan, Kyrgyz Republic, and Tajikistan.
Under the agreement, EDB will provide USD 1 billion in cofinancing of ADB projects from 2016 to 2021.
EDB is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital totals USD 7 billion. The member states of the Bank are the Armenia, the Republic of Belarus, Kazakhstan, the Kyrgyz Republic, the Russian Federation, and Tajikistan.
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