The Board of the Eurasian Development Bank (EDB) approved the redistribution of shares between shareholders, the bank announced, Sputnik reports.
The share of Russia was reduced from 65% to 44.8%. After a uniform redistribution of part of the Russian shares, the shares of other participants in the statutory fund look like this: Kazakhstan - 37.3%, Belarus - 5.2%, Tajikistan - 4.3%, Armenia - 4.2%, Kyrgyzstan - 4.2%.
That is, Russia and Kazakhstan have blocking stakes, but none of them has a controlling stake. The decrease in Russia's share was made against the backdrop of Western sanctions.
Belarus has agreed with the EDB to step up funding, Belarusian Prime Minister Roman Golovchenko said in October 2022. For example, these are investments in the production of craft paper at the Svetlogorsk Pulp and Cardboard Mill and the production of medical products and medications.
Western financial institutions stopped working with Belarus and Western investments stopped coming. In 2022.
EDB was founded in 2006. The participants of the statutory fund are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan.
CentralasianLIGHT.org
January 17, 2023