The Eurasian Development Bank as a mechanism of scientific and technological integration within the framework of EAEU: legal aspects

Abstract

The subject of this research is the legal and cognate framework strategic aspects of the Eurasian Development Bank (EDB) as the key regional financial and investment institution that lend support to integration projects in the industrial sector in the countries of operations on a priority basis. The goal of this research lies in the conceptually systematization of the framework strategic and legal grounds of the  activity of the Eurasian Development Bank as the mechanism for the development of cooperation between EAEU member-states in the sphere of technological modernization of the economy and manufacturing of high-tech and science-driven products based on the cooperation projects with integration component. The author analyzes the instruments that are part of law of the Bank and determine its engagement in the integration processes in the industrial, agricultural and energy spheres, which suggest technological modernization. The conclusion us made that the current project and related analytical work of the EDB is in line with the trends of operation of the multilateral development banks, as well as correlated the requirement for increasing global competitiveness of the EAEU. The novelty of this research consists in comprehensive examination of the system of legal instruments aimed at implementation and strengthening of the potential of the Eurasian Development Bank as one of the mechanisms of industrial and technological integration within the EAEU. The author’s main contribution consists in argumentation of the position that overcoming systemic problems that persist in the activity  of the EDB, with the support of the national governments and national institutions of development, as well as active cooperation with the Eurasian Economic Commission, would most positively affect the intensification of the processes of industrial and technological cooperation and turning the EAEU into one of the most influential integration associations in modern world.