Oman, EDB Sign Agreement On Bank's Presence In Sultanate

(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 6. Oman and the Eurasian Development Bank (EDB) have signed an agreement on the conditions for the bank's presence in the Sultanate of Oman during the state visit of Sultan Haitham bin Tariq Al Said to Kazakhstan, in the presence of the Sultan and Kazakh President Kassym-Jomart Tokayev, EDB said.

The document was signed by Oman's Minister of Finance Sultan bin Salim bin Said Al Habsi and EDB Chairman of the Management Board Nikolai Podguzov.

Oman will become the EDB's eighth shareholder and the bank's first member state from the Gulf region, according to the EDB.

"The agreement is a step toward closer ties between Central Asia and the Gulf region. We see significant potential here and will develop this cooperation, including within the framework of the Bank's new strategy," Podguzov said.

The agreement reflects Oman's and the EDB's interest in long-term partnership, sustainable investment and the development of regional economic ties, the bank said.

The EDB is a multilateral development bank investing in Eurasia. As of the end of June 2026, its cumulative portfolio comprised 348 projects with total investments of $22.1 billion.

The bank's portfolio includes projects in transport infrastructure, digital systems, green energy, agriculture, manufacturing and mechanical engineering.

Under its 2022-2026 Strategy, the EDB is implementing three mega-projects: the Central Asian Water and Energy Complex, the Eurasian Transport Network and the Eurasian Commodity Distribution Network.

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