Ukraine suspends negotiations on joining EDB

Ukraine has suspended negotiations on its accession to the Eurasian Development Bank (EDB).

EBD Director Igor Finogenov announced this at the VIII International Conference "The Deepening and Spread of Eurasian integration” on Tuesday in Moscow.

"Such negotiations [to join the EDB – ed.] are not being held, there was an exchange of information on possible conditions for entry into the EDB, the information was presented to the Ukrainian authorities, we have not received other questions. Now there are no calls for Ukraine's accession into the EDB. We believe that there is a pause, and the ball is on the Ukrainian side," Finogenov noted.

According to him, negotiations on Ukraine's accession to the EDB stopped about a year ago. Also, Finogenov added that the issue of Ukraine's contribution is subject to separate bilateral negotiations and is not regulated by the charter of the Bank.

Eurasian Development Bank (EDB) is an international financial organization established to promote economic growth in its member states, extend trade and economic ties between them and to support integration in Eurasia. The Bank was conceived by the Presidents of the Russian Federation and the Republic of Kazakhstan and established in 2006, following the signing of an international agreement by the Presidents of those two countries on 12 January that year.

The Bank's activities are aimed at creating the conditions necessary for encouraging sustainable economic development, promoting integration between EDB member states and mitigating the consequences of the global financial and economic crisis.

The Republic of Armenia and the Republic of Tajikistan, the Republic of Belarus and the Kyrgyz Republic became full members of the Bank In 2009, 2010 and 2011 respectively.

Adapted from Ukrinform