EFSD Executive Director meets with the Prime Minister of the Kyrgyz Republic
Moscow, 24 July 2019. Andrey Shirokov, Executive Director of the Eurasian Fund for Stabilization and Development (EFSD) managed by the Eurasian Development Bank (EDB), met with Mukhammedkalyi Abylgaziev, Prime Minister of the Kyrgyz Republic, during EFSD delegation's visit to Bishkek.
The sides discussed the reconstruction of the Bishkek–Osh road (Phase IV). The Kyrgyz Prime Minister expressed his gratitude for the Fund’s work on this project.
The sides commended their bilateral cooperation in the framework of investment and grant projects implemented by the EFSD in the Kyrgyz Republic and discussed their key mid-term plans and the future of their partnership.
The Eurasian Development Bank (EDB) 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 EDB's charter capital totals US $7 billion. 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.
The Eurasian Fund for Stabilization and Development (EFSD) amounting to US$8.513 billion was formed on 9 June 2009 by the governments of the same six countries. The objectives of the EFSD are to assist its member countries in overcoming the consequences of the global financial crisis, ensure their economic and financial stability, and foster integration in the region. The EFSD member countries signed the Fund Management Agreement with Eurasian Development Bank giving it the role of the EFSD Resources Manager.
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