Eurasian Development Bank net profit totaled $39.8 mln in 2009

The EDB was founded on January 12, 2006 in Astana, Kazakhstan following the signing of the Agreement on Establishment of the Bank, which was then ratified by the Republic of Kazakhstan on April 12, 2006 and by the Russian Federation on June 3, 2006. The Bank officially commenced operations on June 16, 2006. The Bank enjoys the status of an international organization and is subject to international law. The Bank was established with a charter capital of US$1.5 billion, of which US$1 billion is contributed by Russia and US$500 million by Kazakhstan. According to the founding documents, any country or international organization can apply to become a member of the EDB. The Bank's mission is to facilitate the development of market economies, economic growth and the expansion of trade and other economic ties in its member states by carrying out investment activities. The Bank strives to become a consolidating element within the financial infrastructure and a catalyst for the expansion of integration processes in the territory of its member states.