Governing bodies

The EFSD is managed by the EFSD Сouncil supported by the Expert Council and the Eurasian Development Bank, acting in its capacity of the EFSD Resources Manager and the EFSD Secretariat. 

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

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

Within the EDB there exists a dedicated , which prepares and implements EFSD’s projects and programmes in close coordination with other EDB departments. The EFSD Project Unit prepares and implements EFSD’s projects in close coordination with the EDB departments, member states and other international financial institutions as well as acting as the Fund Secretariat. 

The EFSD counsil

The EFSD council acts on behalf of member states and makes all key decisions on the Fund’s operations including decisions on funds mobilization, investing temporarily idle funds of the EFSD, the use of the funds and any other issues related to the Fund.

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

Anton G. Siluanov

Anton G. Siluanov

First Deputy Prime Minister of the Russian Federation – Minister of Finance 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

First Deputy Prime Minister of the Russian Federation – Minister of Finance of the Russian Federation

Alihan A. Smailov

Alihan A. Smailov

Minister of Finance of the Republic of Kazakhstan

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

Faiziddin S. Qahhorzoda

Faiziddin S. Qahhorzoda

Minister of Finance of the Republic of Tajikistan

Minister of Finance of the Republic of Tajikistan

Atom S. Janjughazyan

Atom S. Janjughazyan

Minister of Finance of the Republic of the Republic of Armenia

(+37411) 800-002

ajanjughazyan@minfin.am

 

Date and Place of Birth

March 22, 1971, Yerevan

Education

1987-1992 Yerevan Polytechnic Institute after K. Marx with Order of the Red Banner

1993-1995 Master’s Course of the Graduate School of the State Engineering University of Armenia

1995-1997 Postgraduate Course of the Same University

Profession

Automated Control Systems, Computer Engineering

Qualification

Engineer - System Technician, Master of Engineering, Engineer – Researcher

Scientific degree

Candidate of Technical Sciences

Work Experience

1991-1993 Armenian SSR State Planning Committee, Technician, Engineer-Programmer

1993-1995 RA Ministry of Economy, Department of Information Systems, First Class Specialist

1993-1995 State Engineering University of Armenia, Department of Automatic Management Systems, Assistant

1995 RA Ministry of Economy, Department of Information Systems, Leading Specialist, Senior Specialist

1995-1996 RA Ministry of Finance, Department of Computer Analyzing, Senior Economist; Division of Current Expenditures of Republican Budget of the Cash Management Department, Head of Division

1996-1997 RA Ministry of Finance, Head of Accounting Department

1997-1999 RA Ministry of Finance, Head of Operational Department, Head of General Department of Economic Programs 

1999-2000 RA Ministry of Finance, Deputy Minister- Chief Treasurer

2000-2008 RA Ministry of Finance and Economy, Deputy Minister- Chief Treasurer

2007-2009 Armenian State University of Economics, Department of Finance and Credit, Assistant

2007-2011 RA State Management Academy, Department of Public Management and Public Finance, Lecturer

2008-2016 RA Ministry of Finance, Deputy Minister- Chief Treasurer

2016-2018 RA Ministry of Finance, First Deputy Minister

Since May 2018  Minister of Finance of RА

Training Courses

1996 – “Technical Cooperation Programme for National Budgeting”, US Agency for International Development, Different States of USA  

1999 – “Use of Information Technologies in Different Spheres”, US State Department of Education, Different States of USA 

2000 – “Conflict Management and Leadership”, Harvard Law School, USA

2001 - “Public Expenditure Management and Treasury Operations”, Joint Vienna Institute, Austria, Vienna

2002 – “Public Debt Management Issues”, Japan International Cooperation Agency (JICA), Japan, Tokyo

Special Awards

2003 - Awarded by the RA Prime Minister with a Certificate of Appreciation

2007 - Awarded by the President with Anania Shirakatsi Medal for Efficient Work in Public Management System

2015 - Awarded by the President with Second Rank Medal for Dedicated Service to Motherland

Personal Data

Married, has a daughter and two sons.

Reservist.

Minister of Finance of the Republic of the Republic of Armenia

Maxim L. Ermolovich

Maxim L. Ermolovich

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 Main State Budget Department, 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.

The EFSD resourses manager and secritariat

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

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

  • Performs performs operations with the accounts of the Fund;
  • Presents presents bills issued by the Member member States 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;
  • performs other necessary actions.
  • Prepares As part of the Fund’s resources administration, the Bank:
  • prepares annual Programme of activities, administrative budget, annual and financial reports;
  • Considers 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 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 cooperates with Member member Statesstates, the Expert Council of Experts, and the recipients of the Fund resources; and
  • Performs 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 member States states of the Fund and the goals of its creationfoundation. In order to manage the Fund’s resources and to fulfil the EFSD Secretariat functions, Tthe EFSD Department Project Unit was established within the Bank to manage the Fund’s resources. In close cooperation with other departments of the Bank, Member member States states and other international development institutes, this the Department Unit is responsible for the preparation and implementation of all EFSD projects.

According to the  and the , acting Aas the EFSD Secretariat, the Bank assists the interaction of the Bank's departments and governing bodies regarding preparing and holding meetings of the EFSD Expert Council and the EFSD Council, preparing meeting materials, as well as performing other functions.


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