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ALMA-ATA, October 1. /TASS/. Mutual direct investments in CIS fell by $6.3 bln or 12% in 2014 but remain stable in the Eurasian Economic Union (EAEU), the Eurasian Development Bank said on Thursday.
"Destabilization of economic and political situation in Ukraine is a major driver of collapse for all mutual direct investments in CIS," the bank said. "However, mutual investments in the EAEU region rose from $24.8 bln to $25.1 bln in 2014 even in national currencies’ devaluation environment, which is mainly explained by development and strengthening of integrational interaction," the EDB reported.
Russian multinational companies that implemented 84% of mutual direct investments in CIS and Georgia remain the largest investors in the region. Russia attracted nearly 9% of mutual direct investments at the same time. Kazakhstan is ranked second in terms of mutual investment flows. Ukraine, Belarus and Azerbaijan are also among top five most important countries in terms of mutual direct investments, the EDB said.
The Eurasian Development Bank is an international financial organization established to promote economic growth in its member states, extend trade and economic ties between them and to support integration in Eurasia. The Bank was conceived by the Presidents of the Russian Federation and the Republic of Kazakhstan and established in 2006, following the signing of an international agreement by the Presidents of those two countries on 12 January that year. The Republic of Armenia and the Republic of Tajikistan, the Republic of Belarus and the Kyrgyz Republic became full members in 2009, 2010 and 2011 respectively. The Bank’s charter capital is over $1.5 billion.