In Q4 2016, the Asian Infrastructure Investment Bank (AIIB), the Asian Development Bank (ADB), Eurasian Development Bank (EDB), the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB) and the Black Sea Trade and Development Bank (BSTDB) approved finance for 37 investment projects (including investment project loans and equity investments) in the CIS private sector for a total of $2 bln, a 340% increase compared with the third quarter of last year, the report said.
Among the countries, Azerbaijan (55%, two projects) and Kazakhstan (23%, ten projects) were the main recipients of the approved finance for the private sector. The key investors were AIIB and ADB in Azerbaijan, and EDB and EBRD - in Kazakhstan.
Russia signed four projects worth $150 mln in the reporting period (8% of the approved finance for the CIS private sector in the period). Out of this amount, EDB extended $90 mln for the natural resources and mining sector, $29.4 mln for transport and transport infrastructure, and $10 mln for the financial sector.
The members of the World Bank Group (WBG) - the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the ADB, the Eurasian Fund for Stabilization and Development (EFSD, managed by EDB), the Islamic Development Bank (IDB), the EBRD and the EIB - approved 26 sovereign finance projects (including special sovereign loans to governments, technical assistance and grants) worth a total of $2.4 bln in Q4 2016, the report said.
Overall, international development banks approved finance for CIS projects for a total of $10.6 bln in 2016, with the private sector accounting for 31% and sovereign finance 69%.
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