The Eurasian Development Bank and the Ministry of Finance of the Sultanate of Oman signed an agreement on October 6, 2026, setting out the terms for the financial institution's presence in the Arab state. The signing took place during the state visit to Kazakhstan of Sultan Haitham bin Tariq Al Said, according to infohub.kz.
The EDB press service said the agreement opens a new chapter in the bank's history. Oman will become the organization's eighth shareholder and its first member state from the Persian Gulf region.
"The agreement is a step toward closer ties between Central Asia and the Gulf region. We see great potential here and will develop this cooperation, including within the framework of the bank's new strategy," said Nikolay Podguzov.
The signing ceremony took place in the presence of Kazakh President Qasym-Jomart Toqaev and the Sultan of Oman. The document was signed by Oman's Finance Minister Sultan bin Salem Al Habsi and Nikolay Podguzov, chairman of the bank's management board.
As part of the Sultan of Oman's state visit to Astana, Qasym-Jomart Toqaev held bilateral talks at the highest level. The leaders agreed to strengthen trade and economic ties, exchanged high state orders and discussed prospective cooperation in the oil sector.
The Eurasian Development Bank has been carrying out investment activity for 20 years. Its shareholders include Russia, Kazakhstan, Belarus, Tajikistan, Kyrgyzstan, Armenia and Uzbekistan. By summer 2026, the organization's accumulated portfolio comprised 348 projects with total investments of $22.1 billion.
The bulk of the financial institution's portfolio consists of projects with an integration effect in transport infrastructure, digital systems, green energy and agriculture. Under its current strategy through 2026, the bank is implementing three large-scale megaprojects. They are aimed at developing Central Asia's water and energy complex, the Eurasian transport framework and an integrated goods distribution network.