OREANDA-NEWS. June 24, 2010. The Republic of Byelorussia paid for its stake in the authorized capital of the Eurasian Development Bank (EDB); having transferred USD15 m. Therewith Byelorussia completed admittance to membership with EDB, to become the fifth member of the Bank, reported the press-centre of KASE.

Members of the bank are the Russian Federation, the Republic of Kazakhstan, the Republic of Armenia and the Republic of Tajikistan.

The EDB charter is opened for states and international organizations that become bank members on the basis of decisions of the Bank Council after the joining the Agreement on the establishment of EDB and payment of bank shares.

In Y2008 the EDB Council, considered applications of Byelorussia, Tajikistan and Armenia, and approved admittance of these countries to the Bank membership.

In February 2009 Byelorussia officially joined the Agreement on the establishment of Eurasian Development Bank.

On June 17 in Saint Petersburg the Byelorussia Government and EDB entered into an Agreement on conditions of operation of the bank in the Republic, specifying immunities and privileges of the bank as an international financial organization. The Agreement allows the bank for opening a representative office in Minsk, and actively developing investment projects in the republic.

Currently, the Bank is testing a number of large investment projects in Byelorussia, meeting its missions and strategy. In particular, a financing project for construction of Polotskaya Power Station at Zapadnaya Dvina river for USD100 m has been developed and prepared for signing.