The Kazakhstan-headquartered Eurasian Development Bank (EDB) is set to issue UAE dirham-denominated bonds to raise funds for infrastructure projects.

The bonds will be listed and traded on the Abu Dhabi Securities Exchange (ADX), according to BHM Capital, the lead manager for the offering.

The size of the issuance has not yet been fixed.

"The proceeds from the issue will be used for financing high-impact investment projects across EDB’s member states in Central Asia," BHM Capital said.

As of the end of last year, EDB’s portfolio includes 326 projects with a total investment of $19.6 billion.

(Writing by Cleofe Maceda; editing by Brinda Darasha)

brinda.darasha@lseg.com