Eco Trade And Development Bank

ECO TRADE AND DEVELOPMENT BANK / EKONOMİK İŞ BİRLİĞİ TEŞKİLATI TİCARET VE KALKINMA BANKASI The Economic Cooperation Organization Trade and Development Bank is a Multilateral Development Bank (MDB) established on August 3, 2005 by Iran, Pakistan and Turkey, which are the founding members of the ECO. The Headquarters Agreement of the ETDB was ratified by the Republic of Türkiye in July 2007 and the Bank started its operations in December 2008. Its headquarters is in Istanbul (Türkiye) and representative offices are in Karachi (Pakistan) and Tehran (Iran). the organization was expanded to include seven new members, namely the Islamic Republic of Afghanistan, the Republic of Azerbaijan, the Republic of Kazakhstan, the Kyrgyz Republic, the Republic of Tajikistan, Turkmenistan and the Republic of Uzbekistan.
Being an MDB, the Bank is not a profit maximizing organization but would rather focus on financing development programmes and projects at reasonable costs with a favourable repayment condition as pursued by other MDBs such as World Bank, Asian Development Bank, Islamic Development Bank, European Investment Bank, Black Sea Trade and Development Bank, etc. Overall, the Bank would take lending decisions solely on the merits of projects, programmes, or other transactions proposed and tailor borrowing in line with the best opportunities available in the capital markets. It would specifically consider the relevancy and impact of its operations to the development objectives of the member countries. The membership to the Bank is expected to increase soon by joining of other ECO member states as well as their Banks and financial institutions. The Bank would contribute towards the medium and long-term financing needs of the region and thereby help to promote sustainable development and regional integration in both the public and private sectors. It would also aim to become an important institutional vehicle for mobilizing funds in international capital markets for the region’s development needs.
The vision of the ETDB is to become the financial pillar of economic cooperation among all ECO member states by fostering sustainable development and integration. Thus; the other ECO member countries are highly regarded and furthermore would be greatly welcomed into the fold.