The Eurasian Development Bank (EDB), a development finance institution based in Kazakhstan, has raised 200 million UAE dirhams ($54 million) from the UAE capital market to fund investment projects in Central Asia.

The funds were raised through a private placement of a dirham-denominated bond in the UAE capital market, which was arranged by Abu Dhabi Securities Exchange (ADX)-listed First Abu Dhabi Bank (FAB) in partnership with Abu Dhabi Fund for Development (ADFD), according to a press statement.

The bond issuance supports the EDB’s objective of building regional infrastructure, trade, and industrial projects by promoting the use of local currency in cross-border transactions.

In April 2025, the EDB successfully listed its debut AED-denominated bonds on the Astana International Exchange.

No details were given on projects to be funded.

EDB’s cumulative portfolio comprises 305 projects with a total investment of $16.5 billion by 2025. Its project portfolio consists of transport infrastructure, green energy, agriculture, manufacturing and mechanical engineering.  

(Writing by P Deol; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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