EDB Issues $54.46 Million Private Placement Bond in UAE

The Kazakhstan headquartered supranational financial institution Eurasian Development Bank (EDB) has issued a $54.46 million AED denominated private placement bond in the UAE capital markets on Thursday.

It was arranged by First Abu Dhabi Bank (FAB), the largest bank in the UAE, in partnership with Abu Dhabi Fund for Development (ADFD) – a leading national development finance institution.

This issuance supports the EDB’s strategic objective of enhancing regional infrastructure, trade, and industrial projects, while also promoting the use of local currency in cross-border transactions. The proceeds will be channelled into high-impact development initiatives across the Bank’s member states, furthering economic resilience and integration in Central Asia.

This transaction marks an important stage in the financial cooperation between Central Asia and the UAE.

In April 2025, the EDB has successfully placed its debut AED-denominated bonds on the Astana International Exchange (AIX), becoming the first issuer of UAE Dirham bonds in Kazakhstan.

The new issuance carries several milestones such as collaborative effort with ADFD and FAB, strengthening UAE-Kazakhstan financial ties and supporting the EDB’s mission of driving economic growth and prosperity in Central Asia.

Consistent Step

EDB Management Board Vice Chairman Daniyar Imangaliev said that raising AED financing on the UAE capital market is a consistent step by EDB to finance sustainable development in our member states, especially following our recent dirham issue listed on the Astana International Exchange in Kazakhstan.

By building strong and mutually beneficial relationships with local investors of the dynamically developing financial market in the UAE, they were not only diversifying their sources of financing, but also deepening economic cooperation between Central Asia and the Middle East. This transaction is ideally aligned with EDB’s mission to invest in the prosperity of Eurasia, he added.

ADFD Director General Mohammed Saif Al Suwaidi said that this strategic collaboration with the EDB and FAB underscores their commitment to strengthening global development partnerships and leveraging the UAE’s financial ecosystem to support sustainable growth beyond our borders.

By enabling this pioneering AED-denominated issuance, we aim to support high-impact investments across Central Asia that align with our mission to drive economic progress, resilience, and integration through innovative development financing, he said.

Linos Lekkas, Group Head of Investment Banking and Markets at FAB, said that FAB’s exclusive mandate to arrange the EDB’s AED-denominated private placement marks a breakthrough for regional capital markets.

“This transaction, co-invested with the ADFD strengthens our partnership with EDB and reinforces our commitment to advancing innovative financing solutions across the region. As the first AED issuance by a supranational in the UAE, it sets a new benchmark for regional capital markets and supports high-impact development across Central Asia,” he added.

EDB) has worked to strengthen and expand economic ties and foster comprehensive development in its member countries in Eurasia.

By 2025, the EDB’s cumulative portfolio comprised 305 projects with a total investment of $16.5 billion and its portfolio consists projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations.

The EDB is implementing three mega-projects as part of its 2022–2026 Strategy and they are; the Eurasian Transport Network, the Eurasian Agricultural Goods Distribution System and the Central Asian Water and Energy Complex.