OREANDA-NEWS. December 07, 2010. Eurasian Development Bank (EDB) and UN's European Economic Commission (EEC) have signed a memorandum of mutual understanding. The document confirms the parties'  intentions to co-operate and coordinate the joint work for the purpose of aiding the regional economic integration and develop co-operation aimed at reaching the Millennium Goals in interest of Eurasian states, reported the press-centre of KASE.

It is to be reminded that in 2000, at the Millennium Summit the UN-member states and major international organizations recognized the need for more help to poor countries and agreed on eight goals to be achieved by 2015. Amongst them are extension of international co-operation for the purpose of development, reduction of poverty, hunger, children's death rate, securing ecological sustainability.

Having that in mind, EDB and EEC of UN have agreed on co-operation in developing transport and other infrastructure in their member countries, encouraging good power management and saving, environment protection, studying efficient use of hydro-resources, supporting innovative economy, and extension of mutual trade between members of the Eurasian Economic Union and CIS. The parties have also agreed on co-operation with regard to renewable energy sources for rural areas of Central Asia, in particular small hydro-power stations.

The document signed by I. Finogenov, EDB's CEO, and Y. Kubish, Executive Secretary of EEC of UN, contains the parties' intentions to develop an efficient mechanism of such co-operation.

Its first visible result was reached this year already - EDB and EEC of UN jointly do a project - Review of innovative development of Belarus. This research was undertaken on behalf of the Government of Belarus and is being carried out by a team of international experts and EEC of UN experts together with local authorities. EDB provides finance and advice. This research's results will promote Belarus' economic integration in the innovation filed, since to secure smooth integration into the world economy, EDB member-countries have to strengthen their innovative potential and study international experience in  terms of raising high-quality foreign investments under favorable conditions.