Call by the ECO-TDB President

On May 22, 2022 the Secretary General of ECO, H.E. Amb. Khusrav Noziri, while welcoming the President of ECO Trade and Development Bank, Mr. Yalcin Yuksel, appreciated the Bank and its management for financing the prioritized ECO Projects to support the monetary needs of the Member States. The Secretary General shared the initiative taken by the Secretariat to pursue the mandate given to the Organizations by the 15th ECO Summit. He apprised that expansion of membership by all ECO Member States and augmenting paid-in-capital of the ECO-TDB are essential for growth of trade and development in the region. He further invited the Bank to contribute in the various initiatives of the Secretariat for implementation of regional projects, in collaboration with international partners like ADB, IsDB, UNIDO etc.

The President of ETDB gave detailed briefing about mandate of the Bank, its role and the activities being undertaken for regional development. The President of the Bank acknowledged the significance of cooperation between the organizations with a focus on financing bankable projects for infrastructure development in the ECO region. He highlighted that the ECO region has transited through a difficult time of a severe pandemic and is still whacking to tackle its repercussion.

Both sides discussed cooperation in the priority sectors like trade & investment, transport & connectivity, and others to meet the targets set for intra-regional trade and contribution to global economic growth through mutual assistance in projects and feasibility studies.