The Regional Role of the Eurasian Development Bank in the Post-Coronavirus World

Until now, the processes of global regionalisation have not been adequately reflected in the formation of systemic approaches to the management of financial relations within the Eurasian Economic Union. It leads to the search for new financial policy mechanisms necessary to stimulate the economies of the EAEU countries in the context of emerging economic and geopolitical constraints, as well as the creation of the necessary prerequisites for industrial cooperation in the context of anti-Russian sanctions and de-globalisation trends intensified by the COVID-19 pandemic. Currently, the vulnerability of the economies of the EAEU member states is due to their extreme dependence on external extra-regional demand, international capital and technology markets, as well as international settlement and payment systems based on the US dollar. The study is based on a dialectical approach. In conducting the research, we used general scientific methods of analysis, synthesis, generalisation, as well as methods of systemic, historical-logical and comparative analysis. The contradictory nature of the development of the world economy at the present stage was revealed. The role of the EDB in creating conditions for sustainable development of the EAEU member states has been substantiated. Changes in the structure of the EDB’s investment portfolio were analysed. The advantages and disadvantages of the EDB’s current activities in the context of the implementation of the Bank’s Strategy for 2018–2020 were summarised. Comparative characteristics of financing of EDB member countries through multilateral development banks were presented. The impact of the COVID-19 coronavirus pandemic on the current and future activities of the EDB was shown.

1. Rifkin J. The Third Industrial Revolution: How Lateral Power is Transforming Energy, the Economy, and the World. New York: Palgrave MacMillan; 2011. 304 p.

2. Randers J. 2052 — A global forecast for the next 40 years. White River Junction: Chelsea Green Publishing; 2012. 376 p.

3. Schwab K. The Fourth Industrial Revolution. Cologne/Geneva: World Economic Forum; 2016. 192 p.

4. Piketty T. Capital in the Twenty-First Century. Harvard University Press; 2014. 696 p.

5. Eichengreen B. Global Imbalances and the Lessons of Bretton Woods. Cambridge, MA: MIT Press; 2010. 208 p.

6. Реализация экономических интересов России при взаимодействии со странами Азии и Ближнего Востока в условиях новых вызовов и возможностей сотрудничества / Абрамов В. Л., Логинов Е. Л., Шкута А. А. Зарицкий Б.Е и др. М.: Финуниверситет при Правительстве РФ; 2018. 327 с. Realization of Russia’s economic interests in interaction with the countries of Asia and the Middle East in the face of new challenges and opportunities for cooperation / VL Abramov, EL Loginov, AA Shkuta. B. Zaritsky and others. Moscow: Financial University under the Government of the Russian Federation; 2018. 327 p. (In Russ.).

7. Chang H.-J. Kicking Away the Ladder: Development Strategy in Historical Perspective. London: Anthem Press; 2002. 196 p.

8. Chang H.-J. Bad Samaritans: The Guilty Secrets of Rich Nations and the Threat to Global Prosperity. London: Random House; 2008. 288 p.

9. Reinert E. S. How Rich Countries Got Rich and Why Poor Countries Stay Poor. London: Constable & Robinson; 2008. 400 p.

10. Stiglitz J. Globalization and Its Discontents Revisited: Anti-Globalization in the Era of Trump. London: Penguin; 2017. 528 p.

11. Perkins J. Confessions of an Economic Hit Man: The shocking story of how America really took over the world. London: Ebury Press; 2006. 272 p.

12. Andronova I., Shelepov A. Potential for Strengthening the NDB’s and AIIB’s Role in the Global Financial System. International Organisations Research Journal. 2019;14(1):39–54. DOI: 10.17323/1996–7845–2019–01–03

13. Формирование институтов регулирования рисков стратегического развития. Монография. Эскиндаров М. А., Сильвестров С. Н., ред. М.: Когито-Центр; 2019. 454 с. Formation of institutions for regulating risks of strategic development: Monograph. Eskindarov M. A., Sil’vestrov S.N., eds. Moscow: Kogito-Tsentr; 2019. 454 p. (In Russ.).