EDB Council approves Bank's strategy till 2017

The Council approved the Bank's strategy for 2013-2017. Thus, it will focus on budgeting development projects in energy, transport and municipal infrastructure and enhancing economics energy efficiency by funding projects, which are to reduce energy consumption and improve business performance of cost-effective use of resources. In order to deepen economic integration there will be continued allocation of funds for elaborating trade and economic relations and mutual attraction of investments.

The main indicator of Bank's activities in the framework of a new strategy is annual volume of new projects (growth of the investment portfolio) which is not less than USD 1 billion as for the end of 2017. As the new document involves national development policies and programs of the interested countries, for the period of 2013-2017 the EDB has defined country priorities reflecting specificity of its activities in each member state.

"Bank's strategy for 2011-2013 has been accomplished ahead of schedule", said Igor Finogenov, head of EDB. Investment portfolio by the end of 2012 has reached USD 4.6 billion and current investment portfolio equals to USD 3.67 billion.

"Our investment portfolio has potential to generate mutual trade among the member states of the bank in the amount of USD 1.6 billion a year. Bank has provided mutual investments in projects amounting USD 1.6 billion. These projects have contributed to creation of 18,000 jobs and tax payments to the budgets of Participating Member States have increased to USD 588 million a year ", informed I.Finogenov.

The Bank Board also took into consideration the report of the management on project activities as of middle March the current year.

Next meeting of EDB Board will take place in December 2013 in the Russian capital, Moscow.