EDB says council cuts Russia’s share to 44.8% from 66%

MOSCOW, Jan 16 (PRIME) -- The Eurasian Development Bank’s (EDB) council has approved a redistribution of the bank’s charter capital among its participants, and the Russian share has been reduced to 44.7878% from 65.9761% as a result, the bank said in a statement on Monday.

“A portion comprising 321,151 shares held by the Russian Federation in the Bank’s paid-in capital has been evenly distributed among the other member states and, as a result, the Russian Federation’s stake in the EDB has decreased from 65.9761% to 44.7878%,” the statement read.

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