Partners

The EFSD Resources Manager carries out its activities in coordination with other international financial institutions, both in the area of economic policy recommendations, and with regards to specific investment projects. Such cooperation promotes the more efficient use of the Fund's resources.

We also participate in the activities of "donor clubs", which operate in three EFSD member countries — Kyrgyz Republic (Development Partners Coordination Council), Tajikistan (Development Coordination Council) and Armenia (informal network).

The Fund recently started building relationships with other Regional Financial Arrangements (RFAs), and plans to further develop this cooperation in the future.

Donors Coordination in Armenia

Armenia hosts meetings of donor organizations on a regular basis. Coordination services are provided by the World Bank.

In 2013, Armenia plans to hold donor conference to raise funds to accelerate the pace of reforms to the economic and institutional development of Armenia.

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Donor Coordination Council of Tajikistan (DCCT)

DCCT was established to improve cooperation and exchange of information between donors, as well as to identify, in consultation with the Tajik Government, priority sectors for development. In 2007 twelve donor organizations and the Government of Tajikistan signed the Joint Partnership Strategy. Currently, the Council comprises 27 organizations. EDB, as the EFSD Resources Manager, takes an active part in the Council meetings and in discussing issues of public finance and energy sector reforms, which are priority areas for EFSD in Tajikistan.

In December 2012, ACF took part in the Tajikistan`s Development Coordination Council Forum. The meeting summed up implementation of the Poverty Reduction Strategy for 2010—2012 and presented for discussion Living Standards Improvement Strategy for 2013—2015 prepared by the Government of Tajikistan.

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Development Partners Coordination Council of Kyrgyz Republic (DPCC)

The Joint Country Support Strategy (JCSS) for the Kyrgyz Republic presents a core strategy of seven development partners to support the Kyrgyz’s development agenda for the period 2007-10. The strategy is a joint effort of: the Asian Development Bank (ADB), the Swiss Cooperation (SC), the UK Department for International Development (DFID), the World Bank Group (WBG), the United Nations Agencies, the Government of Germany, and the European Commission. International Monetary Fund joined the JCSS in 2009.

Today the Kyrgyz DPCC consists of 18 organizations. Coordination of donor activities covers implementation, financial accounting and audit evaluation of joint projects, review of project portfolios and harmonization of financial management and procurement procedures. The Eurasian Development Bank (EDB) in its capacity of the EFSD Resources Manager is presented in the structure of the Kyrgyz DPCC working groups on transport, energy, finance, investments and government finance.

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The World Bank

The World Bank and EDB started their cooperation in September 2009 by signing a Memorandum of Understanding. Since then, understanding has been reached on a number of collaboration mechanisms, e.g. cofinancing of projects in EDB and World Bank member states, joint analytical work on sustainable economic development of these states, and the transfer to the ACF Resources Manager of World Bank’s accumulated experience in such corporate governance areas as procurement and financial management policies, environmental and social safeguards, risk management etc.

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International Monetary Fund

EDB coordinates its activities both with the International Monetary Fund (IMF) program missions and with the IMF representative offices in Armenia, Belarus, Kyrgyz Republic, and Tajikistan. Cooperation is conducted in the framework of the general economic situation monitoring, and in the course of preparation and implementation of EFSD’s credits. Regular consultations allow the EFSD and the IMF to compare their vision of macroeconomic trends and economic development forecasts, improve estimates of the economic policy impact pursued by debtor nations and technical definitions of different indicators of macroeconomic situation. If necessary, joint support measures for financial stabilization programs implemented by the governments of member countries are defined.

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European Bank for Reconstruction and Development

In November 2011 Igor Finogenov, Chairman of the EDB Board and Sergey Shatalov, ACF Managing Director, visited the EBRD headquarters in London, to discuss a broad spectrum of issues pertaining to corporate development, coordination of country strategies, collaboration on joint projects in member states of these regional development banks, and problems arising from the continued volatility of the global financial system.

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Asian Development Bank

Four of the EFSD member states (Republic of Armenia, Republic of Kazakhstan, Kyrgyz Republic and Republic of Tajikistan) are countries where the Asian Development Bank (ADB) conducts its operations as well. The two regional development banks have promising prospects for cooperating both on public sector projects (large-scale infrastructure facilities), and on private sector development.

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