In Almaty the first sitting of Board of Eurasian bank for development was held

/INTERFAX-KAZAKHSTAN, Almaty, June 27, 06/ - In Almaty on Tuesday the first sitting of Board of Russian-Kazakhstan Eurasian bank for development (EABD) took place. "A range of supreme questions, including details of budget forming, list of members of staff of the bank have been considered, and also obligations among the members of Board have been charged, the principles of investment and tariff policy, and also banking limits have been defined", noted in spread message of the bank. In accordance with press release temporary office of EABD is located in a building provided by the National bank of Kazakhstan. Office is equipped with telecommunication and office automation, necessary for normal working of the bank. Meanwhile, concurrently, in Almaty there is a search for building where headquarters of EABD will be located. At the same time activity for attracting of qualified bank employees is being initiated, the message notes. As it is expected, after bank formation up to 100 persons will work in its headquarter, and in affiliate in Saint-Petersburg - up to 40. At present, pursuant to press release there are about 30 employees in the bank, including the chairman and his deputies, and also leadership of the main departments. As it has been informed on the past first sitting of council of EABD on June 9 in Almaty were formed its leading bodies. Accordingly, Victor Khristenko was elected the chairman of council of the bank the minister of industry and energy of the Russian Federation, deputy - the minister of industry and trade of Kazakhstan, Vladimir Shkolnik. Deputy minister of finance of the Russian Federation Igor Finogenov was appointed the chairman of Board of EABD. In its turn, on introduction of the head of the bank the council appointed five his deputies: Bolat Zhamishev (ex-chairman of state agency of financial supervision of Kazakhstan), Sergey Ryabov, Valeriy Kim - pluralistically financial director, Victor Bolyasnikov - administrative director and Nikita Tolstikov - the director on international affaires. Council also formed the Board of the bank, to which Dmitriy Krasilnikov and Vladimir Yasinskiy belonged, besides the chairman of Board and his deputies. The initiative of EABD creation belongs to the presidents of Russia and Kazakhstan. In January 2006 in the course of official visit in Kazakhstan by Vladimir Putin intergovernmental agreement of EABD foundation was signed. In spring 2006 the agreement was ratified by parliaments of both countries. EABD creation represents realization of the largest integration project in the former soviet territory in financial and economic sphere. Authorized capital of EABD will total $1.5 bn. It will be formed from contribution of the Russian Federation at the amount of $1 bn. and Kazakhstan - in the sum of $500 m. Monetary and investment activity of the bank will comprise rendering of financial and monetary support to countries-participants in implementation of macro-economical and structure policy, financing their industrial and innovative programs, participation in implementation of interstate task programs, and also investment projects, having interregional meaning, crediting the industrial enterprises of countries-participants. EABD is an international financial organization, open for new comers entrance. Other states and international organizations might join to the agreement of EABD foundation. As the subject of international law EABD disposes a special legal status, meant by endowment with privileges and advantages in the territory of countries-participants, including property and legal immunities, tax and customs exemptions, advantages allowed to avoid expenses and risks, arisen from possible change of legislature and banking regulation in the countries-participants. These peculiarities of the status of the bank provide its main distinction from any commercial and state banks, including the national banks for development. EABD making as international financial institution will be completed in 2006. [2006-06-28]