Governing bodies

In compliance with the statutory documents, the following Bodies are involved in EFSD opertations: the EFSD Council, the EFSD Council of Experts, the Eurasian Development Bank.

The Council of the Fund is the top governing body, taking the key decisions on the Fund’s operations. The Council members are the Ministers of Finance of member states.

The Council's decisions are drafted by the Council of Experts, where member states are represented by department directors of their Ministries of Finance.

Within the EDB there exists a dedicated Project Block, which prepares and implements EFSD’s projects and programmes in close coordination with other EDB departments.

Council of the Fund

The Council of the Fund acts on behalf of member states and makes all key decisions on Fund’s operations including the decisions on the mobilization of funds, investing temporarily free funds of the EFSD and extending EFSD loans.

As of today, the members of the Council are:

Anton G. Siluanov

Anton G. Siluanov

Chairman of the Fund Council, Finance Minister of the Russian Federation

Date and place of birth

12 April 1963, Moscow

Education

In 1985, Anton G. Siluanov graduated from the Moscow Finance Institute, specializing in Finance and Credit. He has a candidate’s degree in economics. He speaks German.

Work experience

August 1985 — March 1987: economist, senior economist at the Finance Ministry of the RSFSR

March 1987 — May 1989: military service in the Soviet Army

May 1989 — January 1992: leading economist, 1 st grade economist, leading economist, Deputy Director of a subdivision, consultant at the Finance Ministry of RSFSR

February 1992: Deputy Director of a division at the Economy and Finance Ministry of the Russian Federation

February 1992 — October, 1997: Deputy Director of the Budget Management Division, Deputy Director of the Budget Department — Director of Division, Deputy Director of the Budget Department of the Finance Ministry of the Russian Federation

October 1997 — July 2003: Director of the Macroeconomic Policy and Banking Department of the Finance Ministry of the Russian Federation

March 22, 2001, member of the Finance Ministry Board

July 2003 — May 2004: Deputy Finance Minster of the Russian Federation

May 2004 — 12 December 2005:Director of the Inter-Budget Relations Department

12 December 2005 —September 2011: Deputy Finance Minister of the Russian Federation

September 2011 — December 2011: Acting Finance Minister of the Russian Federation

December 2011 to the present: Finance Minister of the Russian Federation

Other information

In 2001, Anton G. Siluanov was awarded an honorary diploma by the Finance Ministry

In 2002, he was distinguished by a Decree of the President of the Russian Federation

In 2002, he was distinguished by a medal from the Finance Ministry

Chairman of the Fund Council, Finance Minister of the Russian Federation

Bakhyt T. Sultanov

Bakhyt T. Sultanov

Minister of Finance of the Republic of Kazakhstan

Sultanov Bakhyt Turlykhanovich was appointed Minister of Finance of the Republic of Kazakhstan by Decree of the Head of the State No. 684 dated 6 November 2013.

Date and place of birth

1971, Almaty

Education

Graduated from Kazakh National Technical University and Kazakh State Academy of Management. He earned his Bachelor’s Degrees in Electrical Engineering and Economics

Work experience

From 1994 through 1997, he worked as an economist, Deputy Chief of State Securities Directorate, Head of Sector at the Ministry of Finance of the Republic of Kazakhstan

From 1996 through 1997, he served as Deputy Chief of Cash Assets and the State Debt Directorate of the Treasury at the Ministry of Finance of the Republic of Kazakhstan

From 1997 through 1998, he served as Deputy Director of Budget Department and Director of State Purchases Department of the Ministry of Finance of the Republic of Kazakhstan

From 1998 through 1999, he served as Deputy Director of the Treasury of the Ministry of Finance of the Republic of Kazakhstan

From 1999 through 2002, he served as Deputy Director of the Budget Department, Deputy Director and Director of the State Budget Department of the Ministry of Finance of the Republic of Kazakhstan

From 2002 through 2003, he served as Director of the Budget Policy Department of the Ministry of Economy and Budget Planning of the Republic of Kazakhstan

From 2003 through 2006, he served as Vice Minister of Economics and Budget Planning of the Republic of Kazakhstan

From 2006 through 2007, he served as Chairman of the Statistics Agency of the Republic of Kazakhstan, Vice Minister of Finance of the Republic of Kazakhstan

From 2007 through 2010, he served as Minister of Economics Affairs and Budget Planning of the Republic of Kazakhstan

In March 2010, by the presidential decree he has been appointed Aide to the President of the Republic of Kazakhstan

In January 2012, by presidential decree, he was appointed Deputy Head of the Executive Office of the President of the Republic of Kazakhstan

Additional information

He was awarded the Order of Kurmet (Honour) and two medals

He is married with three children

Minister of Finance of the Republic of Kazakhstan

Adylbek A. Kasymaliev

Adylbek A. Kasymaliev

Minister of Finance of the Kyrgyz Republic

Date of birth:

1 December 1960

Place of birth:

Issyk-Kul region, Tup District

Nationality:

Kyrgyz

Education:

1984 graduated  from Leningrad Finance and Economics Institute

Languages: Kyrgyz, Russian

Class rank: II Rank State Advisor of the Tax Service

1984 — 1988: junior researcher, Institute of Economics of the State Planning Committee of the Kyrgyz Republic

1988 — 1990: Head of financial services of a road constructing batallion

1990 — 1994: Deputy Head of the State Tax Inspectorate for Oktyabrsky District of Bishkek

1994 — 1996: Head of Department, Deputy Head of the State Tax Inspectorate under auspices of the Ministry of Finance of the Kyrgyz Republic

1996 — 2002: Deputy Head, Head of Department, Ministry of Finance

2002: Deputy Chairman of the Social Fund of the Kyrgyz Republic 

2002 — 2005: First Deputy Chairman, Committee for Revenue, Ministry of Finance

2007 — 2009: Deputy Chairman of the State Committee of the Kyrgyz Republic on taxes and fees

2009 — 2010: Deputy Chairman of the State Tax Service (STS KR)

2010: Acting Chairman, STS KR

2010 — 2011: Chairman of the State Tax Service of the Kyrgyz Republic

2011 — 2012: Deputy Minister, Ministry of Economic Regulation of the Kyrgyz Republic

2012: Deputy Minister, Ministry of Economic Affairs and Antimonopoly Policy of the Kyrgyz Republic

2012 — 2015: Deputy Minister, Ministry of Economic Affairs of the Kyrgyz Republic

2015 to the present: Minister of Finance

Minister of Finance of the Kyrgyz Republic

Qahhorzoda Faiziddin Sattor

Qahhorzoda Faiziddin Sattor

Minister of Finance of the Republic of Tajikistan

Minister of Finance of the Republic of Tajikistan

Vardan S. Aramyan

Vardan S. Aramyan

Minister of Finance of the Republic of Armenia

Date and place of birth
4 December 1975, Yerevan


Education

1992 — 1997: State University of Economics of Yerevan, Diploma of Higher Education in Economics (Master's Degree)

2004: TUFTS University (USA), Fletcher School, Special Intensive Educational Program-Certificate of Graduate


Career experience

1999 — 2002: Central Bank of Armenia, Monetary Policy Department, Division of Regulation of Relations with Government, Expert

2002 — 2003: Central Bank of Armenia, Monetary Policy Department, Real Sector Research and Modelling Division, Cheif Expert

2003 — 2008: Central Bank of Armenia, Monetary Policy Department, External Sector Division, Head of Division Deputy Head of Monetary Department

2008 — 2013: Deputy Minister of Finance of Republic of Armenia

2013 September — 2016:  First Deputy Chief of Staff of the Office of the President of Republic of Armenia

Present: Minister of Finance of Republic of Armenia


Training courses

1999: “Tax Policy in Armenia” organised by the Central Bank of Armenia in Yerevan

2000: “Mathematical Statistics and Econometrics” organised by the Central Bank of Armenia in Yerevan

2000:  “Macroeconomic Analyses and Policy” organised by the IMF in Vienna

2002: “Government Financial Statistics - GFS” organised by the IMF in Vienna

2002: “Applied Economic Policy Course” oganised by the Joint Vienna Institute in Vienna

2003: “Workshop on Transmission and Modelling in Inflation Targeting” oganised by the Czech National Bank in Prague

2005: “New Challenges to Central Bank Monetary and Financial Stability Policies”, IMF, Washington

2006: “Economic and Monetary Integration in Europe”, JVI, Austria

2007: “Capital Flows, Monetary Policy and Current Issues in World Finance”, the World Bank, France

2008: “Monetary Policy, Exchange Rates and Capital Flows ” Study Centre Gerzensee, Swiss National Bank, Switzerland


Special awards

2011: Awarded by the Prime Minister, gold medal for Best Track Record in Responsibilities and Contribution to Economic Policy

2011: Awarded by the President Anania Shirakatsi Medal for Vital Contribution to Economics

2015: Awarded by the President Second Rank Medal for Dedicated Services to the Motherland


Personal data

Married with two children

Minister of Finance of the Republic of Armenia

Vladimir V. Amarin

Vladimir V. Amarin

Minister of Finance of the Republic of Belarus

Date and place of birth:

1961, Minsk

Education:

In 1983 he graduated from the Belarusian State Institute of National Economy named after V.V.Kuibyshev; in 2006 the Academy of Publiс Administration under the auspices of the President of the Republic of Belarus.

Work experience:

From 1983 to 2001 he occupied various positions in the finance system ofthe  BSSR and the Republic of Belarus

2001 – 2006: Head of General Directorate of Budget Policy

2006 –  2008: First Deputy Minister of Finance

6 November 2014: appointed  Minister of Finance of the Republic of Belarus

Minister of Finance of the Republic of Belarus

Council of Experts

The Council of Experts of the Fund carries out the preliminary expertise of all the issues submitted for the consideration of the Fund’s Council. It also prepares the Expert Evaluations of all loan requests, formulates recommendations and drafts decisions for the EFSD Council.

As of today, the members of the Council of Experts are:

The Chairman of the Council of Experts, Director of the Department of International Financial Relations, Ministry of Finance of the Russian Federation

Assistant to the Minister of Finance of the Republic of Armenia

Director of the Department of international financial relations, Ministry of Finance of the Republic of Kazakhstan

Deputy Head of the Budget Directorate, Ministry of Finance of the Republic of Tajikistan

Head of the Directorate for International Financial Relations, Ministry of Finance of the Republic of Belarus

Director of the Department of International cooperation, Ministry of Finance of the Kyrgyz Republic.

Resources Manager (EDB)

In accordance with the Agreement on the Management of Fund Resources, the Eurasian Development Bank is vested with the functions of the EFSD Resources’ Manager, including the administration of all the resources of the Fund.

As part of the administration of the Fund’s resources, based on the Fund Council’s decisions and consistent with the Fund’s documents, the Bank:

  • Performs operations with the accounts of the Fund;
  • Presents bills issued by the Member States for payment;
  • Concludes Agreements on the provision of Fund resources and disburses Fund’s resources in accordance with the terms of such agreements;
  • Invests temporarily idle resources of the Fund;
  • Prepares annual Program of activities, administrative budget, annual and financial reports;
  • Considers applications for the provision of financing from the Fund’s resources, prepares appropriate appraisals drafts Agreements on the provision of Fund’s resources;
  • Keeps records of the debts of the recipients of the Fund;s resources; monitors and assesses the fulfillment of obligations under Aagreements on the provision of Fund’s resources;
  • Cooperates with Member States, the Council of Experts, and the recipients of the Fund resources; and
  • Performs other necessary actions.

In order to control the accounting and the reliability of financial statements of the Bank with regard to its activities as the EFSD Resources’ Manager, the Bank organizes an annual independent external audit.

While performing its functions as the EFSD Resources’ Manager, the Bank is guided solely by the interests of the Member States of the Fund and the goals of its creation. The EFSD Department was established within the Bank to manage the Fund’s resources. In close cooperation with other departments of the Bank, Member States and other international development institutes, this Department is responsible for the preparation and implementation of all EFSD projects.


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