The Eurasian Development Bank (EDB) and the Abu Dhabi Fund for Development (ADFD) have signed a Memorandum of Understanding (MoU) aimed at enhancing strategic, technical and operational cooperation to support sustainable socioeconomic development in countries of mutual interest.

The agreement was signed by Nikolai Podguzov, Chairman of the Management Board of the EDB, and His Excellency Mohamed Saif Al Suwaidi, Director General of ADFD, during the 2025 Annual Meetings of the World Bank and International Monetary Fund in Washington D.C., Eurasian Development Bank reported on October 15.

Under the MoU, the two institutions will identify opportunities for co-financing infrastructure projects that align with national and regional development priorities. The parties also plan to explore collaboration in treasury operations, share technical knowledge, and exchange information to build on their respective expertise and resources.

“This partnership with Abu Dhabi Fund for Development marks a significant step forward in our shared commitment to support high-impact investments across Central Asia,” said Podguzov. “By leveraging each other’s strengths and resources, we will not only develop impactful initiatives in the region but also contribute to deepened economic cooperation between UAE and Central Asia.”

The agreement formalises a relationship that has already seen cooperation between the two parties. In July 2025, the ADFD supported the EDB’s issuance of bonds denominated in UAE dirhams, marking a milestone for the multilateral lender’s entry into the Gulf capital markets.

His Excellency Mohamed Saif Al Suwaidi said the MoU reflects the UAE’s broader commitment to building international partnerships that promote sustainable development. “The signing of this Memorandum of Understanding with the Eurasian Development Bank aligns with the UAE’s commitment to advancing international cooperation and building partnerships that drive sustainable economic growth,” he said. “The agreement reflects ADFD’s strategic approach to strengthening collaboration with regional and international financial institutions to unify efforts, exchange knowledge, and co-finance impactful projects that develop infrastructure, stimulate long-term socioeconomic development, and deepen economic connectivity between the UAE and the broader Eurasian region.”

Founded in 2006, the EDB is a multilateral development bank that promotes integration among its member states in Eurasia. As of July 2025, its cumulative portfolio consisted of 319 projects with a total value of $19.1bn. The bank focuses on infrastructure, digital systems, agriculture, and energy, with all projects aligned with the UN Sustainable Development Goals.

Established in 1971, ADFD finances infrastructure projects in developing countries and manages the UAE government’s foreign aid grants. It also supports Emirati private sector companies in expanding internationally.