EDB team participates in the donor conference held in Yerevan

26 November 2014

Moscow, 25 November 2014. A team of Eurasian Development Bank headed by Alexei Cherekaev, Head of the Project Group, Anti-Crisis Fund (ACF) Department, has taken part in the donor conference arranged by the Ministry of Transport and Communication of the Republic of Armenia in Yerevan. The conference was convened to discuss a range of potential projects in the area of road construction in the Republic of Armenia.

During the visit, the team of EDB experts also held negotiations on the loan agreement for the North-South Road Corridor Construction Project in Armenia.

The North-South Road Corridor links Central Asia, Iran, and India with Georgia, the Russian Federation, and Europe. The corridor passes across Armenia from South to North, links up with the Georgian road in the south leading to seaports Poti and Batumi (Black Sea) and on toward Russia, the CIS, and EU. The “North-South” road is part of AH 82 transnational motorway interlinking such Central Asian countries as Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. In July 2014, the ACF Council approved financing of this project with the ACF’s resources.

Additional Information

Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth and the expansion of mutual trade and other economic ties in its member states. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan. Read more at https://www.eabr.org/.

The EurAsEC Anti-Crisis Fund (ACF) amounting to US$8.513 billion was formed on 9 June 2009 by the governments of six countries: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. The objectives of the ACF are to assist the member countries in overcoming the consequences of global financial crisis, ensure their economic and financial stability, and foster integration processes in the region. The ACF member countries signed the Fund Management Agreement with Eurasian Development Bank giving it the role of the ACF Resources Manager. Read more at https://efsd.eabr.org/.

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