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EDB plans to open credit line for construction of hospitals in member countries

The Eurasian Development Bank would like to open targeted credit lines for construction and modernization of medical institutions in the member countries, including Kyrgyzstan. The Chairman of the Board of the Eurasian Development Bank, Andrey Belyaninov, told in an interview with Kommersant.

According to him, the issue of quality of the services provided in the healthcare sector is currently acute. Therefore, the bank wants to open a similar credit line using the mechanism of public-private partnership.

«We are actively working on the possibility of subsidizing our interest rate at the expense of the government programs. EDB is currently administering the work of the Eurasian Fund for Stabilization and Development. It administers, does not manage its money. Therefore, there is an idea to subsidize the bank’s interest rate at the expense of the fund,» Andrey Belyaninov said.

At the same time, he noted that the implementation of measures will require additional liquidity. Therefore, the EDB will turn to the central banks of countries with a request to equate the promising targeted issue of bonds denominated in national currencies with government securities.

«There are measures that are not included in this assistance program, but are also aimed at combating coronavirus. For example, together with the Russian Export Center, the EDB is preparing for providing preferential loans for the supply of Russian-made products that are in demand for the fight against COVID-19,» the head of the EDB said.