Business news

MINSK, 13 August (BelTA) – Rusatom International Network, which is part of the Russian nuclear industry corporation Rosatom, and Eurasian Development Bank (EDB) have signed a memorandum of understanding and cooperation, Rusatom International Network’s press service told BelTA.

The memorandum stipulates interest in establishing common principles of bilateral cooperation in Kazakhstan, Armenia, Tajikistan, Belarus, Kyrgyzstan, and other countries.

Rusatom International Network and Eurasian Development Bank have agreed to work together to help implement Rosatom’s high-tech projects in such areas as renewable energy sources, thermal power, nuclear medicine, radiation technology applications in the production sector, agriculture, food processing centers, construction and maintenance of nuclear power plants and other sophisticated engineering facilities.

Apart from that, the sides will work together to determine instruments and forms of financing projects involving Rosatom’s divisions. The sides will work together to provide informational and consulting support to project financing, participate in events meant to promote projects (conferences, exhibitions, forums, seminars), and organize mutually beneficial information exchange.

Head of the EDB project division Vsevolod Smakov noted that the bank is ready to assist Rusatom International Network with the implementation of high-tech projects in the area of power engineering and production sector in Armenia, Belarus, and Central Asia.

Rusatom International Network is Rosatom’s division in charge of developing and managing a network of 11 foreign regional centers. The division focuses on business development, promotion of Russian nuclear products and services on the global market. It also provides international communication support to Rosatom’s operations. Coordinating international economic activities of Rosatom’s divisions is a core function of Rusatom International Network.

Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with a view to facilitating the development of market economies in the member states, their sustainable economic growth, and the expansion of mutual trade and economic ties. The EDB's charter capital stands at $7 billion. The member states of the bank are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan.