NUR-SULTAN, August 16. /TASS/. Kazakhstan's authorities are discussing the possible purchase of part of Russia's share in the capital of the Eurasian Development Bank (EDB), though no final decision has been taken yet, Kazakh Deputy Prime Minister, Finance Minister Yerulan Zhamaubayev told reporters on Tuesday.

Bloomberg reported on August 9 citing sources that Russia might reduce its EDB stockholding to the advantage of Kazakhstan due to sanctions-related risks.

"Overall, there exists such rhetoric, we do not deny it. It is really being discussed," he said. However, "no final decision has been taken yet as everything depends on what share will be offered, whether other countries will be ready to purchase a certain share, including Kazakhstan, and how much it will cost," the official added.

There is no specific timeframe for the discussion yet, he said, adding that "the operation of the EDB is quite stable, with sanctions not affecting it much so far."

According to Bloomberg, Kazakhstan may eventually become the holder of a controlling share of the development bank if the deal occurs.

Currently Russia owns 65.97% in the EDB, Kazakhstan holds 32.99%, Belarus - around 1%, while Tajikistan, Armenia and Kyrgyzstan hold the remaining part of shares.

The EDB is an international financial organization established by Russia and Kazakhstan in 2006 to facilitate the development of market economies in member-states, their sustainable economic growth and expansion of mutual trade and economic ties. Currently its members, apart from Russia and Kazakhstan, are Armenia, Belarus, Kyrgyzstan, and Tajikistan. Projects with an integration effect in the areas of transport infrastructure, digital systems, green energy, agriculture, industry and engineering have the major share in the bank's portfolio.