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China interested to join capital of Eurasian Development Bank

The Eurasian Development Bank is an international financial organization, which should promote economic growth of its member-countries and broaden trade and economic ties

Photo ITAR-TASS/Mikhail Klimentyev

Photo ITAR-TASS/Mikhail Klimentyev

BISHKEK, September 13 (Itar-Tass) - China is interested to make investment in the capital of the Eurasian Development Bank (EDB), Russian presidential special envoy for the affairs of the Shanghai Cooperation Organization (SCO) Kirill Barsky told reporters here on Friday.

“China is interested to join this bank,” Barsky noted. “As far as I am concerned, the bank wants to increase its capital. The monetary funds will be enough for the projects,” he noted.

“The Chinese financial authorities have intensified their contacts with the Eurasian Development Bank over the past year,” the Russian presidential special envoy said. “They have not agreed on anything yet, but there are several interesting proposals that are being considered,” he noted. Barsky did not rule out that the mechanism of funding the SCO projects may be launched first. China and the EDB should agree on the terms of country’s accession in the bank, Barsky said.

The Eurasian Development Bank is an international financial organization, which should promote economic growth of its member-countries and broaden trade and economic ties between them as well as development of the integration processes in the Eurasian space. The bank was founded in January 2006. The presidents of Russia and Kazakhstan initiated the creation of the bank. Armenia, Tajikistan, Belarus and Kyrgyzstan are among other member-countries of the bank.

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