ALMATY, Kazakhstan--(BUSINESS WIRE)--As proposed by the Eurasian Development Bank (EDB), the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) will host its next Annual Meeting in Kazakhstan. The event will take place on May 17–18, 2023 in Almaty.
The decision was made by the ADFIAP Board of Directors at the 45th Annual Meeting in Manila, Philippines in October 2022
ADFIAP Annual Meetings are the largest gathering of CEOs of multilateral development banks and development institutions from 38 countries in the Asia-Pacific region. The ADFIAP is a non-governmental organisation with consultative status with the United Nations Economic and Social Council. Its mission is to promote sustainable economic growth in the region and to support its environmental and social development.
The EDB became a member of the ADFIAP in June 2022.
“The ADFIAP also aims to contribute to the development of Central Asian countries. It is one of the most promising and fastest-growing regions. Over the past 20 years, the GDP of Central Asian countries has grown more than sevenfold at an average annual rate of 6.2%, according to our estimates. This is faster than in any developing country and more than double the speed of global economic growth. That said, the further development of the countries’ potential largely depends on private investment and major multilateral programmes, which require the participation of international development institutions. The ADFIAP and its Annual Meeting can become a platform for discussing new joint projects between its members in Central Asia and the EDB member countries,” said Nikolai Podguzov.
The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries. For more than 16 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries – Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia and Tajikistan. The EDB's charter capital totals US $7 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing, and mechanical engineering. The Bank’s operations are guided by the UN Sustainable Development Goals and ESG principles.