The Eurasian Development Bank has proposed to the Asian Development Bank to jointly implement projects in Central Asia, Sputnik reports.
During the annual meeting of the ADB, held in Tbilisi, the EDB delegation participated in a roundtable discussion on the collaboration of multilateral development banks in the Asia-Pacific region.
"Key players were able to discuss positions, plans, and further steps towards building a common system of multilateral banks for more effective cooperation and joint work," the bank's statement said.
Denis Ilyin, Senior Managing Director of the EDB, is convinced that only systemic interaction among regional development banks can fully unlock their potential.
Only together can banks leverage their strengths, including collective efforts in project expertise in the private sector, experience in working with national currencies, and significant regional analytics.
"Working as a cohesive team, as a system, rather than isolated organizations, can yield higher quality results across all areas of interaction," noted Ilyin.
According to him, this includes biodiversity, climate change adaptation, irrigation, joint work on water security, green technologies and innovations, as well as transportation accessibility and ensuring food security in the Central Asian region.
"Denis Ilyin proposed several ideas to deepen cooperation between banks, including joint initiatives in capital markets, pooling resources for technical assistance, and conducting joint research," the statement said.
The Eurasian Development Bank (EDB) is a multilateral development bank investing in projects across the Eurasian space. The EDB's authorized capital amounts to 7 billion.
CentralasianLIGHT.org
May 11, 2024