Russia's stake in capital of Eurasian Development Bank to decline to 44.8% from nearly 66%

MOSCOW. Jan 16 (Interfax) - The board of the Eurasian Development Bank (EDB) has approved the redistribution of the bank's charter capital among the member countries, the EDB said in a statement.

According to the EDB, a part of the block of shares belonging to the Russian Federation is being evenly redistributed among the other member countries, thus Russia's stake in the bank's capital will decrease to 44.79% from the current 65.98% stake.

Kazakhstan's stake in the EDB will grow to 37.29% from its current 32.99%; Armenia's and Kyrgyzstan's respective stakes will rise to 4.23% from their currently respective 0.01% stakes in the bank's capital; Belarus's stake will increase to 5.21% from 0.99%; and Tajikistan's stake will rise to 4.26% from 0.03%.