EFSD executive director meets with World bank representatives
Moscow, 20 March 2019. Andrey Shirokov, Executive Director of the Eurasian Fund for Stabilization and Development (EFSD) managed by the Eurasian Development Bank (EDB), met with representatives of the World Bank during EFSD delegation’s visit to Dushanbe.
The sides discussed the enhancement of cooperation in the power projects planned in Tajikistan.
A memorandum of understanding between the International Development Association and the EDB, as the Resources Manager of the EFSD, was also signed to ensure cooperation in respect of the Nurek HPP Rehabilitation Project (Phase 1), including information exchange, consultations and assistance in monitoring and other project activities.
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.
The EDB Media Centre:
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