The bank`s headquarters are located in Almaty, Kazakhstan. [Citation required] The Eurasian Development Bank (EDB) is a regional development bank founded in 2006 by the Russian Federation and the Republic of Kazakhstan. It has six Member States in Asia and Europe, including Armenia, Belarus, Kyrgyzstan and Tajikistan. Other States and international organizations can become members by signing the Bank`s founding agreement. The bank has credit ratings from international rating agencies: Standard & Poor`s (ВВ/negative) and Moody`s Investors Service (А3/stable). EDB cooperates with financial institutions around the world to mobilize long-term financing in the capital markets, which are the Bank`s main source of investment financing. Fund-raising instruments include Eurobonds under the EMTN programme; bonds on local markets; securities covered by the ECP programme [clarification needed]; and bilateral bank loans. In April 2017, the EDB and the New Development Bank, which represents the BRICS member states, signed a cooperation agreement. [6] The Bank`s Board is its highest general management body. Each Member State shall appoint a plenipotentiary representative to the Council and an alternate shall become a member of the Council. The Council shall meet if necessary and at least twice a year.
EDB`s greatest achievement in recent years has been its recognition as an international financial development institution specializing in regional integration. In November 2017, EDB signed a partnership agreement with the United Nations Industrial Development Organization. [7] In March 2014, EDB and the Kyrgyz Republic signed financing agreements for these projects. The EDB`s Strategy and Research Department conducts large-scale research and application projects, regularly organizes conferences and round tables; and publishes the results of research, sectoral and technical reports, and macroeconomic surveys that provide analysis and forecasts of the region`s economic development. The papers published by the Bank examine regional integration, the activity of other development banks and the financing of investment projects in the post-Soviet region. Designed by the Presidents of the Russian Federation and the Republic of Kazakhstan, the Bank was established in 2006 following the signing by the Presidents of the Russian Federation and the Republic of Kazakhstan of an international agreement on 12 January of the same year. The Bank strives to avoid or mitigate the negative environmental or social effects of the projects it supports and to ensure that they contribute to the sustainable development of its Member States. EDB was created at the initiative of the Russian and Kazakh presidents and was formalized by the signing of an international agreement on January 12, 2006. [Citation required] The Bank began operations in June 2006, when the laws ratifying the agreement entered into force. .
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