About EFSD Grants Projects Development partners
Documents Governing bodies Media Centre Procurement
EFSD main page> Projects> Financial credit to Tajikistan to support social budget spending

Financial credit to Tajikistan to support social budget spending

The ACF Council held on June 18, 2010 in Saint Petersburg approved the first ACF operation — financial credit to the Republic of Tajikistan in the amount of US$70 million. The Credit agreement between the Government of Tajikistan and the EDB as the Manager of ACF resources was signed on July 24 in Dushanbe. On August 20, 2010 this financial credit was disbursed to the Republic of Tajikistan in a single tranche.

Main parameters of the financial credit can be found here

In accordance with the Agreement on the provision of a Financial Credit (FC) from the EurAsEC Anti-crisis Fund between EDB and Republic of Tajikistan, in February-May 2011 the ACF Manager conducted an assessment of the progress in reforms supported by the FC. The main conclusions have been agreed with the Borrower and were included into the Mid-Term Report, which is placed here.

The Manager’s Implementation Completion Report on the Financial Credit to Tajikistan was approved at the Fund Council’s meeting on 7 December, 2012. The report can be found here.

Project documentation




08.12.15. The 24th meeting of the Council of the Eurasian Fund for Stabilisation and Development takes place in Yerevan

Today, the Council of the Eurasian Fund for Stabilisation and Development (EFSD; Fund) at its meeting in Yerevan approved the provision of the first tranche of the financial credit to Armenia and Armenia's preliminary application for an investment loan to build the Mastara water reservoir.

The Council approved the extension of the first tranche of the financial credit to Armenia from the EFSD in the amount of US $100 million as a result of the borrower's fulfilment of all obligatory conditions of the tranche.

Armenia's preliminary application for an investment loan from the Fund to finance construction of the Mastara water reservoir was approved in the amount of US $25.5 million. The project intends to develop irrigation infrastructure and increase water supplies to irrigated areas in Armaviri Marz. To this end, a water reservoir will be built and two water user associations will be modernised.


07.07.15. Council of the Eurasian Fund for Stabilisation and Development approves investment loans to Armenia and Kyrgyzstan

Moscow, 3 June 2015. The Council of the Eurasian Fund for Stabilisation and Development has approved two investment loans — to Armenia and Kyrgyzstan.

The investment loans will be provided to finance t he projects of Irrigation System Modernisation in Armenia in the amount of US $40 million and Toktogul HPP Rehabilitation (Phase 2) in Kyrgyzstan in the amount of US $100 million.

At the meeting Council of the Fund also approved the Annual Report of Eurasian Development Bank on its activity as the EFSD Resources Manager for 2014.


10.06.15. IMF Executive Board Concludes 2015 Article IV Consultation with Tajikistan

On June 1, 2015 the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation1 with Tajikistan.


11.02.15. EDB delegation discusses prospects of ACF-supported investment cooperation with Tajikistan

Moscow, 5 February 2015. A delegation of Eurasian Development Bank (EDB), the Resources Manager of the EurAsEC Anti-Crisis Fund (ACF), headed by Head of the Programme Division, ACF Project Group, Artak Azizyan visited Dushanbe this week.


10.10.14. EAEC replaced with Eurasian Economic Union

MOSCOW, October 10. /TASS/. The Eurasian Economic Community of Russia, Belarus, Kazakhstan, Kyrgyzstan and Tajikistan (EAEC) ceases formally its existence on Friday. The community, organised on October 10, 2010, will wind up at a summit in Minsk, where leaders of these countries, including Russia’s President Vladimir Putin, will discuss further integration.

Russia’s presidential aide Yuri Ushakov told reporters “On January 1, 2015 EAEC will be replaced by the Eurasian Economic Union.”

EAEC “has a large-scale legal base (215 agreements) for multilateral trade and economic cooperation, which offered a base for development of Eurasian integration.”

Back in 1994, Kazakhstan’s President Nursultan Nazarbayev voiced the ideal of Eurasian integration, but it was not supported by other CIS countries. On January 6, 1995, Russia and Belarus signed an agreement on the Customs Union. Later on, Kazakhstan, Kyrgyzstan and Tajikistan joined the Customs Union. In 1999, the countries entered an agreement on the Customs Union and the Common Economic Space, and on October 10, 2000 - an agreement on organisation of EAEC.

In August 2006, EAEC countries decided to organise from 2010 the Customs Union, which uses in mutual trade a single customs tariff, and on November 27, 2009, presidents of Russia, Belarus and Kazakhstan reached a decision to develop deeper the economic integration and to move towards the Common Economic Space. On May 29, 2014 presidents of Russia, Kazakhstan and Belarus inked an agreement on organisation of the Eurasian Economic Union from January 1, 2015. Kyrgyzstan and Armenia have announced they would like to join the Union.

The upcoming summit will also discuss consequences from Ukraine’s association with the European Union.

“The Russian Federation, Kazakhstan and Belarus share the view that the association agreement will influence negatively the trade and economic relations with Ukraine,” the presidential aide said.


Member States

  • The Republic of Armenia

    of Armenia

  • The Republic of Belarus

    of Belarus

  • The Republic of Kazakhstan

    of Kazakhstan

  • Kyrgyz Republic


  • Russian Federation


  • The Republic of Tajikistan

    of Tajikistan