Russian share in EDB capital decreased from 66% to 44.8% – Kommersant
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The redistribution of the authorized capital between the member states of the Eurasian Development Bank (EDB) has been completed. The share of Russia in the capital as a result of the adjustment decreased from 66% to 44.8%. About it reported press service of the government of Kazakhstan.
According to the Kazakh government, on June 28, decisions on the redistribution of the authorized capital between the participating states were fully implemented. As a result, part of the block of shares in Russia in the paid-in authorized capital was evenly redistributed among the other member states. Thus, the Russian share decreased by 21.2% to 44.8%. At the same time, the share of Kazakhstan increased from 33% to 37.3%.
EDB Chairman Nikolay Podguzov said that in 2022 the bank has strengthened its role as a leading development institution in the Eurasian space. The accumulated investment portfolio reached $13.4 billion, which was a record high and significantly exceeded plans for the reporting period. Of these, $2.5 billion were raised through the signing of new projects.
August 9, 2022 Bloomberg citing sources reportedthat Russia intends to reduce its stake in the EDB below the control in favor of Kazakhstan so that the bank does not fall under sanctions. The press service of the bank declined to comment on the situation then. Later, the head of the Ministry of Finance of Kazakhstan, Yerulan Zhamaubaev declaredthat the republic is considering buying a 4.2% stake in the EDB portfolio from Russia for $54–65 million.
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