The Chairman of the Eurasian Development Bank (EDB), Nikolay Podguzov, delivered a speech at the Boao Asian Forum (BAF) currently taking place in Hainan Province, China. The session on "Dialogue of Top Managers of Transnational Corporations (TNCs)" gathered leaders from Chinese and transnational companies to discuss "New Trends in TNC Localization." Podguzov presented key points regarding EDB's role and cooperation prospects as a leading multilateral development bank in the Eurasian region and China.
Highlighting EDB as a key multilateral development bank specializing in the Central Asian region, Podguzov emphasized the bank's investment portfolio in member countries exceeding $15 billion. Central Asia is recognized as a rapidly growing and promising economic region, with a GDP growth rate surpassing that of other developing countries and the world average.
Podguzov noted the dynamic economic ties between China and EDB member countries, with trade volume reaching $314.8 billion in 2023, a 28.3% increase from the previous year. He also highlighted the significant increase in China's direct investments in the region, particularly in the energy sector, following a win-win principle benefiting both sides.
Furthermore, Podguzov expressed confidence in the collaboration among international development banks, including EDB, to scale up financing and increase joint projects, essential for achieving sustainable development goals in developing countries. Effective cooperation with multilateral development banks offers Chinese companies access to substantial funding for projects beyond their borders, especially in the private sector, necessitating involvement of Chinese financial institutions and cooperation with regional development banks.
In the context of carbon reforms and green economy development, Chinese companies are encouraged to invest in green projects and products, leveraging their knowledge and technologies in collaboration with development banks to successfully implement projects and minimize risks. As a multilateral development bank, EDB not only invests in the region but also facilitates attracting foreign investments, fostering partnerships with international organizations and investment structures, expressing interest in collaborating with Chinese financial institutions.
