The head of the Eurasian Development Bank has joined the board of directors of ADFIAP.

Denpasar. November 15. KAZAKHSTAN TODAY - The Chairman of the Board of the Eurasian Development Bank, Nikolai Podguzov, has been elected to the Board of Directors of the Association of Development Finance Institutions in Asia and the Pacific (ADFIAP). This announcement was made at the XVII International Forum of ADFIAP Organizational Leaders.

The ADFIAP Board of Directors is pleased to announce the inclusion of a new esteemed member, Mr. Nikolai Podguzov, who serves as the Chairman of the Board of the Eurasian Development Bank and possesses extensive experience and knowledge in development project financing. His appointment reaffirms ADFIAP's commitment to expanding its network and strengthening cooperation in the Central Asia region, which plays a crucial role in shaping the future of development financing. The Board expects Mr. Podguzov to make a valuable contribution to advancing ADFIAP's mission and goals," the press service of the EDB quotes ADFIAP's statement.

During the forum, Nikolai Podguzov participated in a panel discussion titled "Sustainable Future: The Role of Impact Investments in Building Resilient Infrastructure."

In his speech, the Chairman of the EDB emphasized the importance of overcoming the unique challenges facing the Eurasian region while also fostering sustainable growth and creating reliable infrastructure. He highlighted the concept of "glocalization," which posits that global challenges require solutions tailored to specific regions. Additionally, it was reported that Central Asia, where the EDB headquarters is located, faces a number of challenges typical of the region, including the need for rapid economic growth, increased transport connectivity, and water resource management.

Cooperation among development finance institutions is of utmost importance," added Nikolai Podguzov, noting the need for collaboration in implementing large-scale infrastructure projects that will shape a sustainable future for the Eurasian region.

Eurasian Development Bank (EDB) is an international financial organization engaged in investment activities across the Eurasian space. For over 18 years, the EDB has been facilitating the strengthening and expansion of economic ties and comprehensive development among its member countries. The authorized capital of the EDB is $7 billion. The majority of the EDB's portfolio consists of projects with integration effects in the areas of transport infrastructure, digital systems, green energy, agriculture, industry, and machine engineering. In its operations, the bank is guided by the United Nations Sustainable Development Goals and ESG principles. Almost 60% of the Bank's investment portfolio is allocated to Kazakhstan.

ADFIAP serves as the coordinator for all development banks and other financial institutions involved in development financing in the Asia-Pacific region. The organization's mission is to promote sustainable development through its members. Founded in 1976, ADFIAP currently has 90 member organizations across 40 countries. ADFIAP is also one of the founding members of the World Federation of Development Finance Institutions, which includes regional associations from Africa, the Asia-Pacific, Latin America, and the Middle East.