The annual meeting and business forum of the Eurasian Development Bank (EDB) took place in Almaty. The event was attended by representatives of Armenia, Belarus, Kyrgyzstan, Russia, Uzbekistan, and Tajikistan. This was reported by Qazaqyia.kz citing Sputnik Kazakhstan.
2026 is a very important year for the EDB. At the beginning of the meeting, EDB Chairman Nikolai Podguzov expressed gratitude to the countries that have contributed to the bank's development over 20 years. According to him, the potential of the financial organization is growing over time, and the strategy for 2027-2031 is currently being refined. This will allow the bank to reach a new historical level, Podguzov said.
"Kazakhstan has a favorable geographical position and plays an important transit role in the northern, southern, western, and eastern directions. The Trans-Caspian route, China – Kazakhstan, Russia, Belarus, and Europe – we are working on these directions. One of the important projects is the 'Ayagoz – Bakhty' project. We proposed implementing a large-scale strategic project in Kazakhstan worth $2.5 billion for the next five years. I am confident that the volume of investment in Kazakhstan will increase. The priority sector will be industry," said EDB Chairman Nikolai Podguzov.
The Chairman believes that a large-scale smart project is needed in the water resources sector. "To solve the water resources problem in Eurasian and Central Asian countries, it is necessary to approach it from a smart technological digital perspective. Because 90% of water goes to agriculture. If we introduce digital planning in crop production and agriculture, we can increase profits in this sector by up to 40%. As a result, we will save millions of cubic meters of water and redirect them to other purposes," said Nikolai Podguzov.
The Eurasian Development Bank plans to expand its coverage and include several states. "We are working to conduct expansion more dynamically. But another important point should be noted: the expansion of the bank should not hinder, but rather help, the active operations of the bank and the active role of current shareholders. The status of the bank's founders must remain unchanged, and the contribution to the economies of the participating countries should not weaken," said the Chairman.
The EDB is likely to add Oman and enter the Persian Gulf. Overall, the bank plans to expand to 11 countries. According to the bank's management, the organization has approved a new expansion direction covering 11 states. Additionally, the bank considers nuclear energy and artificial intelligence as priority areas for the future.