DUSHANBE, December 11, 2014, Asia-Plus — The Eurasian Development Bank (EDB) and Ghallai Sughd (Sughd Grain Products) Group have signed financial agreements within the framework of the redemption financial leasing deal, according to the EBD press center.
The documents were reportedly inked by Rashid Qodirov, director of the EDB Dushanbe Office, Farhod Qurbonov, Director-General of Ghallai Sughd Group, and Mirzoabbos Okhounov, Director of Ghallai Shimoli, which is subsidiary of Ghallai Sughd Group.
The Eurasian Development Bank will provide 5 million U.S. Dollars to Ghallai Sughd Group for purchase of production equipment, completion of construction of production facilities and replenishment of the company’s circulating capital.
Implementation of this project will allow launching a modern flour mill with capacity of processing up to 150 tons of wheat per day, the source said. The project is expected to create 76 new jobs in Tajikistan.
The Eurasian Development Bank (EDB) is an international financial organization founded by Russia and Kazakhstan in 2006. The members of the Bank are Russia, Kazakhstan, Armenia, Tajikistan and Belarus (2010). Other states or international organizations can become members by joining the Agreement Establishing the EDB. The Bank has authorized capital in exceeds US$1.5 billion, which was formed of contributions by its member states: Russia (US$1billion), Kazakhstan (US$500 million), Armenia (US$100,000), Tajikistan (US$500,000) and Belarus (US$15 million). The authorized capital may be increased by resolution of the Bank’s Council. The Bank has the status of an international organization, and is subject to international law.
