EDB, Russian–Kyrgyz Development Fund may become strategic investors in RSK Bank

BISHKEK (TCA) — The Eurasian Development Bank (EDB) and the Russian–Kyrgyz Development Fund (RKDF) have signed a trilateral memorandum of understanding, cooperation and interaction, the EDB’s press service said.

The EDB and RKDF intend to consider participation as strategic investors in Kyrgyzstan’s state-owned RSK Bank in order to ensure its capitalisation and enhance its support to the economic development of the Kyrgyz Republic.

According to the agreement reached, the parties will develop cooperation to study the opportunities for the EDB and RKDF’s participation in investment projects (by means of lending) run by RSK Bank, as well as its capitalisation.

In September 2016, the EDB and RKDF signed a framework cooperation agreement, which envisions that the parties will jointly select projects, share country and sector-related data, and cooperate in other areas relating to joint project finance.

The Eurasian Development Bank (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. The EDB’s charter capital totals US $7 billion. The member states of the Bank are Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, the Russian Federation, and Tajikistan.

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