The State Unitary Enterprise Tajik Railways (Tajik state railway company), the Eurasian Development Bank (EDB) and Kazakhstan’s Export Insurance Company KazakhExport have reached an agreement to expand cooperation on implementation of the transportation infrastructure development projects. The sides have signed an appropriate agreement of understanding for the purpose developing the strategic partnership, according to the EDB press center.
The sides are reportedly interested in establishing a long-term mutually beneficial cooperation aimed at implementation of the transportation infrastructure development projects in Kazakhstan and Tajikistan with use of products of Kazakhstan’s manufacturers-exporters.
The agreement reportedly provides for interaction in financing separate investment projects and exchanging experience through participation of their representatives in seminars, conferences, business forums and other events.
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.
Founded in 2003, Kazakhstan’s Export Insurance Company KazakhExport operates as an export-credit agency in Kazakhstan. It provides insurance protection against the risk of non-payment in foreign trade operations, and for safety of export transactions to the export manufacturing sector enterprises and second-tier banks. The company supports the growth in the export of non-oil goods, works, and services in the priority economy sectors, as well as develops financial, insurance, and non-financial support practices for enterprises. It offers exporter’s credit insurance, as well as support within the framework of the SPIIAD, such as export and trade financing for exporters; insurance of Kazakhstani investments abroad for investors; trade financing, insurance of documentary credits, bank payment guarantees insurance, and bank counter-guarantee insurance for banks; and reinsurance in the General insurance sector. Headquartered in Almaty, the company also has an additional office in Tajikistan.
