KFICA Members list
The Eurasian Development Bank (EDB) is an international financial organization founded by Russia and Kazakhstan in January 2006 with the aim to facilitate development of market economy of members-states, their sustainable economic growth and expansion of mutual trade and economic relations.
EDB’s main office is located in Almaty. More detailed information on EDB may find on its websitehttp://www.eabr.org.
EDB today counts six members-states, around270 employees, over USD 1.5 billion of charter capital, 49 projects at the implementation phases, over USD 3.4 billion of accumulated investment portfolio.
According to the results of 2011 EDB has accomplished in Kazakhstan twenty projects amounting nearly USD 1.2 billion. Their share make up to 41.4% in the current investment portfolio of the Bank.
In 2006, EDB has joined a project of industrial development of the Voskhod chromite deposit in the Aktobe Region. The EDB funding amounted to USD 60 million. Voskhod has become one of the first major multilateral projects in Kazakhstan with the participation of Russian and Kazakh capital, implemented as a greenfield project. The Mining and Processing Facility was officially opened in September 2008.
Due to its operation the volume of trade flows between Russia and Kazakhstan increased by USD 50 million per year. 380 new jobs were created during the project implementation. In 2006, EDB has funded the development of Zarechnoye uranium deposit in South Kazakhstan Region to the amount of USD 63 million. In 2007, the Russian-Kazakhstani joint venture Zarechnoye started its operations.
The company signed a long-term contract for the supply of goods to Russia totaling USD 1 billion. 243 new jobs had been created at the factory.
Back in 2006, the Bank started co-operation with the shareholders of Ekibastuz GRES 2 – Kazakhstan’s Samruk-Kazyna JSC and Russian’s INTER RAO EAS – to implement projects for modernization of the existing units and construction of new ones. In the summer of 2007, the Bank has opened a credit facility to the station in the amount of USD 93.5 million for funding the technical facilities’ improvement program.
In 2010, EDB, together with the Russian Vnesheconombank, the station and its shareholders signed an agreement for funding the construction of 500 megawatts third power unit. The document stipulated for the provision by the banks of 15-year loan totaling USD 770 million on a parity basis. In June 2011, Halyk Bank of Kazakhstan JSC has joined the project as a third lender.
In 2010, EDB has started financing the construction of Mining and Processing Facility at the Sarymbet tin deposit in the North-Kazakhstan Region by providing Sarymbet JSC USD 48.7 million. The production capacity of the company will meet Kazakhstan market’s demand for tin and will satisfy demand for this metal in the other CIS countries. The company will start up 519 new jobs.
In 2008, EDB joined a project in Mangistau Region to intensify the development of large hydro-carbon deposits in the Caspian Sea. The Bank provided USD 35.6 millions to OMS SHIPPING LLP for the purchase of fleet, which delivers rock for erection of artificial islands on which the oil-mining infrastructure will be built. The project implementation allowed creation of 107 new jobs.
In November 2008, EDB has provided USD 30.5 million to concessionary company Batys transit JSC for the construction of North Kazakhstan - Aktobe Region inter-regional power transmission line. The line started power transmission in early 2009. 50 new qualified jobs had been created.
In 2011 EDB has started implementation of three more projects In Kazakhstan:
- EDB has provided to Altynalmas Company a long-term loan in the amount of nearly USD 100 million for the reconstruction of gold-extraction plant in the Zhambyl Region. The project provides for creation of 930 new jobs.
- EDB has also started investment financing of Bogatyr Komyr LLP - Kazakhstan's largest coal company to the amount of up to USD 50 million to increase the supply of coal to energy companies in Russia and Kazakhstan.
- The Bank provided a loan of approximately USD 52 million to Joint Venture Sulfuric Acid plant Kazatomprom for reconstruction of sulfuric acid plant in Kazakhstan operating for the needs of the country's uranium- mining companies, 170 new jobs will be created.
The investment portfolio of EDB also comprises nine projects in the agricultural sector of Kazakhstan, for implementation of which the Bank provided more than USD 350 million. The projects are aimed at financing the export of grain and oil-seeds, development of infrastructure products storage, their processing and transportation, deep processing of agricultural raw materials and diversification of the production and introduction of new technologies.