Abu Dhabi, United Arab Emirates – The Eurasian Development Bank ( EDB ), an international development finance institution headquartered in Almaty, Kazakhstan, has issued private placement bonds denominated in UAE dirhams in the UAE’s domestic capital market. First Abu Dhabi Bank ( FAB ), the UAE’s largest bank, arranged the landmark issuance, valued at approximately AED 200 million (US$54 million), in collaboration with the Abu Dhabi Fund for Development ( ADFD ), the country’s leading development finance institution.

The issuance of these bonds aligns with the Eurasian Development Bank's ( EDB ) strategic objective of strengthening regional infrastructure, supporting trade and industrial projects, and encouraging the use of local currency in cross-border transactions. The proceeds from the offering will be directed to financing a number of high-impact development initiatives across the bank's participating countries, enhancing economic resilience and integration in the Central Asian region.

This deal marks a significant milestone in financial cooperation between Central Asia and the United Arab Emirates. The Eurasian Development Bank ( EDB ) successfully listed its UAE dirham-denominated bonds on the Astana International Exchange ( AIX ) in April 2025, becoming the first UAE dirham-denominated bond issuer in Kazakhstan.

The most notable achievements resulting from the issuance of these bonds are:

• Laying the foundation for a collaborative effort with the Abu Dhabi Fund for Development ( ADFD ) and First Abu Dhabi Bank ( FAB ) to enhance the growing financial relations between the UAE and Kazakhstan.
• Support the Eurasian Development Bank's ( EDB ) mission to drive economic growth and prosperity in Central Asia.

Commenting on this significant achievement, Daniyar Imangaliev, Deputy Chairman of the Board of Directors of the Eurasian Development Bank ( EDB ), said: “Raising AED financing in the UAE capital market is a positive and appropriate step that provides EDB with an opportunity to finance sustainable development in participating countries, especially after our recent successful issuance of AED-denominated bonds and their listing on the Astana International Exchange in Kazakhstan.”

He added: "We seek to build strong, mutually beneficial relationships with local investors in the UAE's dynamic and growing financial market. This will allow us to diversify our funding sources and support our efforts to deepen economic cooperation between the Central Asian and Middle Eastern regions. This transaction is ideally aligned with our mission to invest in everything that supports the prosperity of Eurasia."

His Excellency Mohammed Saif Al Suwaidi, Director General of the Abu Dhabi Fund for Development ( ADFD ), said: “This strategic collaboration with the Eurasian Development Bank ( EDB ) and First Abu Dhabi Bank ( FAB ) reflects ADFD ’s commitment to strengthening global development partnerships and leveraging the UAE’s open financial system to support sustainable growth beyond our borders. By supporting and enabling this pioneering dirham-denominated bond issuance, we aim to support high-impact investments across Central Asia, in line with our mission to drive economic progress and enhance resilience and economic integration by financing innovative development projects.”

Linos Lekkas, Head of Investment Banking and Markets at First Abu Dhabi Bank ( FAB ) , said: “First Abu Dhabi Bank ( FAB )’s mandate to arrange a private placement of AED-denominated bonds for the Eurasian Development Bank ( EDB ) is a significant milestone for the regional capital markets. This AED 200 million transaction, executed in collaboration with the Abu Dhabi Fund for Development ( ADFD ), further strengthens our partnership with EDB and reinforces our commitment to developing innovative financing solutions across the region. As the first AED-denominated bond issuance by an international financial institution in the UAE, this transaction sets a new benchmark for regional capital markets and supports high-impact development efforts across Central Asia.”

About the Eurasian Development Bank (EDB) :

The Eurasian Development Bank (EDB) is a multilateral development finance institution investing in Eurasia. For over 19 years, the Bank has been strengthening and expanding economic ties and promoting inclusive development in its member states. By 2025, the EDB 's portfolio included 305 projects with a total investment of USD 16.5 billion. Its portfolio primarily comprises projects with a complementary impact in the areas of transport infrastructure, digital systems, green energy, agriculture, manufacturing, and mechanical engineering. The Bank is committed to the United Nations Sustainable Development Goals and environmental, social, and corporate governance principles across its operations.

About Abu Dhabi Fund for Development ( ADFD ):

Established in 1971, the Abu Dhabi Fund for Development ( ADFD ) is a national entity owned by the Government of Abu Dhabi. It aims to stimulate economic and social development in emerging countries by providing concessionary loans, government grants, and equity investments. ADFD plays a key role in strengthening the UAE's development finance ecosystem and facilitating international cooperation through partnerships with multilateral institutions and sovereign entities. To date, the Fund has financed development projects in over 100 countries across a variety of sectors, such as energy, water, infrastructure, health, and education, with a focus on promoting sustainability, innovation, and inclusive development.

About First Abu Dhabi Bank ( FAB )

First Abu Dhabi Bank ( FAB ), headquartered in Abu Dhabi, has a global presence spanning 20 markets, establishing itself as a key link in the financial and commercial ecosystem in the Middle East and North Africa (MENA) region. With total assets of AED 1.31 trillion (equivalent to USD 356 billion) as of March 2025, the bank is one of the largest banking groups in the world. Listed on the Abu Dhabi Securities Exchange, FAB is rated Aa3 , AA- , and AA- by Moody's, Standard & Poor's, and Fitch, respectively, with a stable outlook. The bank is a regional leader in sustainability, having been assigned an AA rating by the MSCI ESG Index, indicating strong performance in environmental, social, and governance (ESG) measures. It is also ranked among the top 6 percent of global banks according to the Refinitiv ESG Index. The bank was ranked as the most diversified in the Middle East and North Africa region according to the Sustainalytics Environmental, Social and Governance (ESG) risk assessment.

Contact:

For press interviews, please contact Ms. Anastasia Medvedeva in the External Relations Department of the Eurasian Development Bank ( EDB ) at medvedeva_as@eabr.org

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