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UMMC and Eurasian Development Bank signed memorandum of cooperation

10/11/2021
UMMC and Eurasian Development Bank signed memorandum of cooperation

JSC UMMC and Eurasian Development Bank signed the memorandum of cooperation following the signing of new syndicated loan. Eurasian Development Bank is one of the club members of the syndicated loan organized by PJSC ROSBANK for JSC UMMC.

The memorandum shows the interest of both sides in the enhancement of the long-term mutually beneficial cooperation which aims funding the UMMC’s investment program and ESG activities.

“Cooperation with Eurasian Development Bank shifts UMMC’s interactions with such international financial organizations as development banks to the new level. This memorandum expands company’s opportunities in the implementation of efficient investment projects in countries-members of Eurasian Development Bank. We highlight the professionalism of Eurasian Development Bank’s team  and greatly appreciate the interest shown towards the cooperation with our company” – Mr. Andrey Kozitsyn, CEO of JSC UMMC, commented.

“The other week Eurasian Development Bank became a club-member in the new syndicated loan for JSC UMMC by providing 3 bln rubles for development programs. We are planning to enhance our cooperation by financing UMMC’s investment program and ESG activities along with the financial support of foreign trade operations of UMMC’s subsidiaries in the region of the Eurasian Economic Union. The goal is to foster the economic growth and to enhance the integration of the Russian economy and the Kazakhstan economy, in which UMMC plays a leading role. Eurasian Development Bank supports a systemic approach to protect the environment and to support a social welfare in such industries as metallurgy and mining. We are confident that the extensive experience and professionalism of our partner’ UMMC team will help to implement targeted goals” – Mr. Nikolay Podguzov, Chairman of the Board of Eurasian Development Bank, commented.

Reference:

Ural Mountain Mining Company (UMMC) – Russian mountain mining group of companies. UMMC is the largest producer of copper, zinc, coal and precious metals in Russia. Over 40 industrial enterprises in Russia and abroad are owned by UMMC. 

Eurasian Development Bank – international financial institution established to promote economic growth in its member states, extend trade and economic ties among them, and support integration in Eurasia through investment. For the 15 years Eurasian Development Bank contribute to strengthening and enhancing economic relationships and comprehensive development of countries-members of the bank: The Republic of Armenia, the Republic of Belarus, The republic of Kazakhstan, Kyrgyz Republic, Russian Federation and the Republic of Tajikistan. Banks’ capital is 7 bln US dollars. Major share in Eurasian Development Bank’s  investment portfolio is taken by integration projects in such industries as transport infrastructure, digital systems, green energy, agriculture, manufacturing and machinery. Eurasian Development Bank in its activities follows UN’s sustainable goals and ESG-principles.