23 September 2016
The Council of the Eurasian Fund for Stabilisation and Development (EFSD, the Fund) has held its 28th meeting. It was attended by members of the EFSD Council – Ministers of Finance of the EFSD member states – and chaired by Anton Siluanov, Minister of Finance of the Russian Federation. The range of the meeting participants also included experts, as well as representatives of Eurasian Development B...
EFSD Council holds its 28th meeting
On 8 December 2015, the EFSD Council extended the second financial credit of US $40 million to Tajikistan to support its economic reforms in 2016-2017. On 15 August 2016, the respective agreement was signed in Moscow between the Government of Tajikistan and Eurasian Development Bank (the Fund’s Resources Manager). On 25 August 2016, Tajikistan was extended the first tranche of the credit totalling US $20 million.
On 20 March 2014, EDB and Kyrgyzstan signed an Agreement on financing The Bishkek-Osh Road Rehabilitation Project, Phase IV with ACF resources in the amount of US$ 60 million.
On 27 December 2013, the Council of the Eurasian Economic Community Anti-Crisis Fund adopted a decision to provide an investment loan to the Kyrgyz Republic to finance the project Farming Machinery Supplies to the Kyrgyz Republic in the amount of US $20 million.
On 2 July 2014 the ACF Council decided to provide an investment loan to Armenia to finance the Construction of the North-South Road Corridor (Phase IV) in the amount of US$ 150 million.
On 2 July 2014, the Council of the Anti-Crisis Fund of the Eurasian Economic Community approved the preliminary application and the conceptual framework of the investment project in the Kyrgyz Republic “Commissioning the second hydro generation unit of Kambaratinskaya HPP-2” for the amount of US $100 million, with US $80 million to be financed by the ACF.
On 2 July 2014, the Council of the Eurasian Economic Community Anti-Crisis Fund approved a preliminary application and concept note of the investment project of the Kyrgyz Republic called Energy Sector Rehabilitation. Phase 2. Toktogul HPP Rehabilitation Component: replacement of the second and fourth turbine-generator units with replacement/rehabilitation of auxiliary systems and powerhouse equipment in the amount of US $190 million, with the Fund’s planned contribution of US $75 million.
In 6 June 2013, the Fund’s Council approved the preliminary application and Concept Note for the investment project on Irrigation System Modernization and Institutional Capacity Building in Armenia in the amount of US $50 million, with the anticipated contribution of the Fund of US $40 million.
Approval of the stabilization credit to the Republic of Belarus in the amount of 2 billion US dollars in seven tranches during 2016-2018 was done by the Fund Council on 25 March 2016.