EFSD Project Block’s Executive Director meets with a number of institutions during a mission to the Kyrgyz Republic
Moscow, 10 September 2019. Andrey Shirokov, Executive Director of the Project Block at the Eurasian Fund for Stabilization and Development (EFSD) managed by the Eurasian Development Bank (EDB), met with Baktygul Jeenbaeva, Minister of Finance of the Kyrgyz Republic, during EFSD delegation’s visit to Bishkek (Kyrgyz Republic), to review the current level of cooperation and priorities in the further joint development and promotion of EFSD investment projects and grants in the country.
In addition, Andrey Shirokov met with Zhanat Beishenov, Minister of Transport and Roads of the Kyrgyz Republic, to discuss the implementation of EFSD investment projects in the transport sector of the Kyrgyz Republic, including the reconstruction of the Bishkek–Osh road (Phase IV), as well as other areas of joint work and medium-term plans.
Andrey Shirokov also met with Bakytbek Shamkeev, Chairman of the Management Board at Aiyl Bank, to talk over the financing of agricultural machinery supplies to the Kyrgyz Republic – a current investment project aimed at upgrading the fleet of agricultural equipment in the country.
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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