EDB may expand its reach to 11 countries, including Gulf states

ALMATY, 25 June (BelTA) – The Eurasian Development Bank (EDB) may expand its reach to 11 countries, including the Gulf states, Chairman of the EDB Board Nikolai Podguzov told journalists following the plenary session “Eurasia 2030+: Investments, Growth, and New Opportunities” at the EDB Business Forum in Almaty, Kazakhstan, BelTA has learned.

“The Bank’s Board has approved a potential expansion to 11 countries. These include countries in the region, such as Mongolia, Azerbaijan, Georgia, Türkiye, and Turkmenistan, as well as the Gulf states: Bahrain, Oman, Qatar, Saudi Arabia, and the UAE. We want to become a fully-fledged regional development bank. To achieve this, we need to participate in the investment agenda of all countries in the region,” he said, emphasizing that it is not mandatory for all 11 states to become EDB members.

According to him, three new shareholders are planned for the next strategic period, including Oman. “We have reached the final stage of our agreements with Oman, defining the parameters and timeline for its accession. An official invitation has been extended to Oman to join the bank,” the chairman of the bank’s board said.