Mission and resources
The EFSD's mission is to help member states overcome the consequences of the global financial and economic crisis, to ensure their long-run economic stability and to foster economic integration among them.
EFSD main principles:
- transparency at all stages of programmes and projects;
- full accountability in the use of funds (the EFSD’s annual financial statements are prepared in accordance with International Financial Reporting Standards and verified by an independent auditor);
- extensive disclosure of information on the Fund’s operations.
Fund resources include member states’ contributions to the Fund and interest on credits and loans extended. Contributions to the EFSD currently add up to US$ 8.513 billion. 10 per cent of this amount was paid in cash; and 90 per cent was paid in the form of simple, non-convertible, non-interest-bearing bills of exchange. If other countries accede to EFSD, the Fund’s resources may increase.
|Armenia||US$ 1 million|
|Belarus||US$ 10 million|
|Kazakhstan||US$ 1 billion|
|Kyrgyzstan||US$ 1 million|
|Russia||US$ 7.5 billion|
|Tajikistan||US$ 1 million|