Oman to become Eurasian Development Bank’s eighth shareholder

On Oct. 6, the Eurasian Development Bank (EDB) and Oman’s Ministry of Finance signed an Agreement on the Terms of the Bank’s Presence in the Sultanate of Oman during Sultan Haitham bin Tariq Al Said’s state visit to Kazakhstan, the EDB’s press service reported.

Under the agreement, Oman will become the EDB’s eighth shareholder and the first member state from the Gulf region.

«This agreement reflects our shared intention to build a bridge between Central Asia and the Gulf region. We see significant potential in this partnership and are committed to deepening our cooperation, which is fully aligned with the Bank’s new strategy,» Nikolai Podguzov, chairman of the management board of the Eurasian Development Bank, said.

The signing ceremony was attended by Kazakh President Kassym-Jomart Tokayev and the Sultan of Oman. The agreement was signed by Podguzov and Oman’s Minister of Finance Sultan bin Salem Al Habsi.

During the Sultan’s state visit to Astana, Tokayev held talks with him at the highest level. The leaders agreed to strengthen trade and economic ties, exchanged the highest state honors and discussed prospects for cooperation in the oil sector.

The EDB has been conducting investment activities for 20 years. Its shareholders are Kazakhstan, Belarus, Russia, Tajikistan, Kyrgyzstan, Armenia and Uzbekistan. By summer 2026, its accumulated portfolio included 348 projects with total investments of about $22.1 billion. Projects with an integration effect in transport infrastructure, digital systems, green energy and agriculture account for a significant share of the financial institution’s portfolio. Under its current strategy, the bank is implementing three major projects focused on developing Central Asia’s water and energy complex, the Eurasian transport network and the Eurasian commodity distribution network.