Moscow/New York, 4 December 2020 - On the margins of the First Eurasian Congress organized by the Eurasian Development Bank (EDB), the Bank and UNDP have signed a Memorandum of Understanding, laying ground for increased cooperation in five shared countries of operation.

Through the Memorandum signed by EDB Chairman of the Management Board Nikolay Podguzov and UNDP Director of the Regional Bureau for Europe and the CIS Mirjana Spoljaric Egger, the two institutions committed to jointly investing in strengthening capacities for sustainable development finance, boosting investments in public infrastructure and scaling up green finance in the Commonwealth of Independent States (CIS) region. Another objective of the cooperation is to accompany the digital transformation of countries, given that the pandemic has created an urgent need for governments to introduce new digital methods in public administration and the private sector to accelerate the use of new technologies.

“With the signing of this new agreement, we are expanding our collaboration to new areas of mutual interest, supporting national aspirations towards digital transformation,” said UNDP Regional Director Mirjana Spoljaric Egger. “In this way we can simultaneously drive the pandemic response and set the path for building forward better. Increasing economic diversification and resilience must include a digital future that embraces new technologies”.

Signing the agreement on behalf of EDB, Nikolay Podguzov noted that the MoU builds on the established collaboration between the two organizations and on their shared aspirations for the region to become greener, more resilient and inclusive. “The accompanying Action Plan outlays future cooperation in areas of mutual interest in Armenia, Belarus, Kazakhstan, Kyrgyzstan, and Tajikistan. The envisaged projects relate to a wide range of issues such as green and smart infrastructure, climate finance, energy efficiency of public buildings and street lighting and the promotion of smart technologies in the agriculture sector”.

About EDB

The EDB is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The EDB's charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.

About UNDP

UNDP works in about 170 countries and territories, helping to achieve the eradication of poverty, and the reduction of inequalities and exclusion. UNDP analyses countries’ development challenges, especially those that fall within the three broad development contexts (multidimensional poverty, structural transformations and gaps in resilience), finding avenues for the Sustainable Development Goals acceleration, and implementing innovative development interventions with a clear vision for leaving no one behind.