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Eurasian Development Bank set to hold first Eurasian Congress


Eurasian Development Bank set to hold first Eurasian Congress

Eurasia dev bank
Photo: Press Service of KazTransGas JSC

The Eurasian Development Bank (EBD) is set to host the First Eurasian Congress in Moscow today.

Heads of government from eight eastern European and central Asian countries will be attending. The First Eurasian Congress, meeting shortly after the Eurasia Development Bank, published its Macroeconomic Forecast for 2020 in which it concluded that the recovery of member economies depends largely on developments with respect to the pandemic.

The Congress will focus on the future of Eurasian economic integration. Notable among the disparate plenary sessions are, “Economic Pragmatism and Mutual Benefit as Key Pillars of Eurasian Economic Integration”, as well as sessions focused on the digital future of the region. Furthermore, as the region has become an important knot in the supply chains from China to Western Europe, transboundary infrastructure will also be discussed.

Expect the Congress to focus on harmonising financial regulations and setting a pathway for closer integration. The Congress will struggle in identifying mutually beneficial ends as member economies have vastly disparate interests. Nevertheless, member economies remain hopeful that the pandemic induced downturn will soon ease and curtail inflation. As such, expect EBD to support member economies with stimulus packages in the short- to medium-term.

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