International development banks increase their presence in CIS

International development banks were actively increasing their activities in CIS countries in the last three months of 2016. Review of the Eurasian Development Bank says.

During the fourth quarter of the year, six financial institutions (Asian Infrastructure Investment Bank, the Asian Development Bank, Eurasian Development Bank, European Bank for Reconstruction and Development, European Investment Bank, Black Sea Trade and Development Bank) approved financing of 37 projects worth $ 2 billion.

The amount of funding has increased 2.3 times and amounted to $ 4.4 billion over three months. Most of the projects are implemented in the energy sector. Azerbaijan (55 percent) and Kazakhstan (23 percent) accounted for the largest share of approved funding in the private sector.

In general, International development banks approved financing of CIS projects for $ 10.6 billion in 2016. At least 31 percent of them - financing in the private sector, 69 percent - sovereign financing.