The EFSD takes part in a meeting of international financial institutions operating in Central Asia and the Caucasus

13 April 2021

Moscow, 13 April 2021. Nikolai Podguzov, Chairman of the Management Board of the Eurasian Development Bank (EDB), chaired a meeting of the Russian Union of Industrialists and Entrepreneurs’ (RSPP) Sub-Commission on Payment and Settlement Systems and Technologies.

This was the first meeting of the platform under the leadership of Nikolai Podguzov, who took charge of the Sub-Commission on 15 March 2021. The participants in the event included representatives of the Central Bank of the Russian Federation, VTB Bank, NOVIKOMBANK, Asian-Pacific Bank, Transkapitalbank, and other prominent financial institutions.

The EDB Chairman reported that a survey was carried out in 2020 to study the opinions of Russian RSPP member companies on the efficacy of international payment transactions and settlements.

“It turned out that direct settlements in national currencies should be among the instruments that will help to build a demand-driven settlement environment and reduce transaction-related risks. And the EDB has created such an instrument. As a development institution for the EAEU zone, our Bank pays special attention to the development of settlement infrastructure in the national currencies of its member countries,” Nikolai Podguzov emphasised.

The participants noted the importance of the work carried out by the RSPP Sub-Commission on Payment and Settlement Systems and Technologies and stressed the relevance of the issues discussed. They also expressed their confidence that the EDB’s expertise in setting up payment and settlement systems will take the format to a new level.

Additional Information:

The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries – Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan. The EDB's charter capital totals US $7 billion. The Bank was established in January 2006 and is headquartered in Almaty. The EDB’s portfolio mainly consists of projects with an integration effect in the areas of transport infrastructure, digitalisation, green energy, agriculture, industry, and mechanical engineering.

The EDB Media Centre:

Alexander Savelyev +7 (985) 765 23 59 (Moscow)

Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)

Sergey Gorbachev +7 (916) 727 22 00 (Moscow)