Eurasian Development Bank
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Cumulative
- Project-Specific Cofinancing $395 million
Partnership Framework Arrangement
Signing Date 2 March 2016
Completion Date 2 March 2026
The Russian Federation and Kazakhstan established the Eurasian Development Bank (EDB) in 2006 to promote economic growth and integration in Eurasia. Other bank members are Armenia, Belarus, the Kyrgyz Republic, and Tajikistan, which are also its priority countries to support.
In 2013, the EDB started partnering with ADB to help promote progress and development in the region in agriculture, transport, energy, and public services. In 2016, ADB and the EDB renewed their partnership; they currently support projects across the region.
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WATCH: Building Armenia’s Roads, Preserving Armenia's Heritage
The construction of the North-South Corridor in Ashtarak, which follows the historic Silk Road, reveals culturally significant archeological finds dating back 2,700 years to the Neolithic Period. Armenia’s economy depends on connecting new markets and products, just as an ancient network of roadways did thousands of years ago.
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