Eurasian Development Bank signs consulting service agreements with World Bank

/KASE, July 9, 12/ - Eurasian Development Bank, whose bonds are officially listed at Kazakhstan Stock Exchange (KASE), has provided KASE with the following press-release of July 9, 2012: quote The Eurasian Development Bank (EDB) and the World Bank (WB) signed on 6 July two agreements for the provision of advisory services. Under the first agreement the World Bank will support EDB in its role as the Resource Manager of the EurAsEC Anti-crisis Fund (ACF). In particular, the World Bank experts will advise on macroeconomic monitoring and the analysis of risks and prospects for economic development of the ACF member countries. Also, short-term internships of EDB staff will be organized in the regional offices of the World Bank. Under another agreement, the World Bank will advise EDB on the monitoring and evaluation of projects for their development effectiveness. These agreements are based on the Framework Agreement signed by EDB and WB in March 2011 that outlines areas of collaboration, in particular in support of the ACF's programs and projects. The Framework Agreement established the parties' intention to deepen cooperation in the analysis of the anti-crisis stimuli for the economies of member states of WB and ACF. Moreover, the Framework Agreement provides for the World Bank's advisory services to the EDB on the design and implementation of projects, as well as on the forecasting of macroeconomic trends in the EurAsEC countries. unquote [2012-07-09]