Oman could become a new shareholder in the Eurasian Development Bank as early as this year

The Eurasian Development Bank has sent an official invitation to Oman to become a shareholder in the bank. A decision is expected to be taken within the next two to three months.

This was announced by Nikolai Podguzov, Chairman of the EDB’s Management Board, following a meeting of the bank’s Board.

According to him, Oman became the first candidate for membership after the EDB Board approved the expansion of the bank’s geographical reach to include 11 countries. The list of potential participants also includes Azerbaijan, Mongolia, Georgia, Turkey, Turkmenistan, Bahrain, Qatar, Saudi Arabia and the United Arab Emirates.

Podguzov noted that, in the new strategic period, the bank expects to attract three new shareholders. This expansion is intended to enhance the EDB’s investment opportunities and strengthen economic ties between the countries of Eurasia and the Gulf states.

To develop cooperation with countries in the region, the bank has already opened a representative office in Abu Dhabi and is looking forward to implementing joint projects in the fields of food security, infrastructure and water technologies.