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EDB: Demand for national currency payments in EAEU growing

Economy 29.11.2019 | 12:43
Andrei Belyaninov. Archive photo
Andrei Belyaninov. Archive photo

MOSCOW, 29 November (BelTA) – There is a growing demand for national currency payments in the Eurasian Economic Union (EAEU) through the clearing system of the Eurasian Development Bank, Chairman of the Board of the Eurasian Development Bank Andrei Belyaninov said as he opened the 14th international conference on Eurasian economic integration in Moscow on 29 November, BelTA has learned.

“We offer this service [clearing and settlement in national currencies] to the member states and other countries, and it is in demand,” Andrei Belyaninov said. "This service has really taken off”.

“Experts recommended against imposing settlements in national currencies. They would say that business would decide what settlements to choose. But 2019 has been the year of payments in national currencies,” the EDB chief said.

The Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The member states of the bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.

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