EDB and ADB to invest $3b in Armenia, Kazakhstan, Kyrgyzstan, Tajikistan

BISHKEK (TCA) — The Eurasian Development Bank (EDB) and the Asian Development Bank (ADB) have signed a framework co-financing agreement, setting forth the main areas and mechanisms of cooperation in the EDB and ADB member states. The document states that the banks will invest in projects in Armenia, Kazakhstan, Kyrgyzstan, and Tajikistan. EDB will provide US $1 billion and the ADB US $2 billion until 2021, EDB’s press service said on March 2. Continue reading

A test for EEU: expansion or consolidation

BISHKEK (TCA) — Back in 2014, then minister of economic affairs of Kazakhstan Kairat Kelimbetov stated at the Astana Economic Forum that the Eurasian Economic Union (EEU) in the course of its formation “is learning a lot from the European Union – not just from the latter’s successes, but also from its mistakes”. Today, that statement is being put to the test – especially concerning the admission of Kyrgyzstan and Armenia by the bloc’s three founding members: Russia, Belarus and Kazakhstan. Continue reading