EDB, “EuroHim” signed Memo of understanding
ALMATY. July 28. KAZINFORM The Eurasian Development Bank (EDB) and Russian "EuroHim" Chemical Company signed Memo on understanding; Kazinform reports.
Signing of memorandum was caused by plans of the "EuroHim" to implement a large-scale project on development of phosphorus deposits, construction of ore-mining and processing mills on its basis. Its implementation will demand significant long-term investments. In this connection the sides agreed to consider possibility of financing of the project by the EDB.
The sides informed that the project will promote integration processes of the CIS and EurAsEC, contribute to the development of market economy of Russia and Kazakhstan, as well as expanding of trade and economic ties between the two countries and their economic growth.
The Eurasian Development Bank (EDB) is an international financial institution founded in order to foster economic growth and integration processes in the Eurasian region. The Bank was founded by intergovernmental agreement that was signed in January 2006 by the Presidents of the Russian Federation and the Republic of Kazakhstan. The initiative for establishing the Bank came from the two Presidents.