In the backstage of VII Astana Economic Forum, Dmitry Krasilnikov, the Deputy Chairman of the Board of the Eurasian Development Bank (EDB), told about the problems of attraction of the long-term resources in Russian and Kazakhstan in his interview with the reporter of  BNews.kz .

“There are several reasons. In Kazakhstan and Russia, such problem is caused by the actions of the National Bank of RoK and the Central Bank of the RF which as you know, expansively promotes the policy of the monetary limitations aimed to control the inflation growth. As for EDB, the success of our attractions is directly connected to growth of the Bank’s project portfolio both in Russian and Kazakhstan. The fundamental problem with the attraction of the long-term resources in Russian and Kazakhstan, as I mentioned, is the lack of the sustainable investor base. The availability of the stable group of investors is very important for our investments, and the ability of such investors to buy our and other issuers’ bonds. Additionally, the laws on assessment of fair value of such bonds subject to the risk level of any issuer, the adequate liquidity of the secondary market and yield levels for different groups of issuers are important”, D. Krasilnikov said.

According to D. Krasilnikov, predictability of resources attraction is very important for any financial institutions directly engaged in taking the risks, including the risk of refinancing of its liabilities.

“Therefore, the availability of such predictable investor base shall have the completely positive effect on the development of all financial institutions, especially those engaged in the long-term financing of the large investment projects”, summarized the Deputy Chairman of EDB.

Sayazhan KAUKENOVA