EFSD Project Block’s Executive Director meets with the Prime Minister of the Kyrgyz Republic
Moscow, 10 September 2019. Mukhammedkalyi Abylgzaiev, Prime Minister of the Kyrgyz Republic, met with Andrey Shirokov, Executive Director of the Project Block at the Eurasian Fund for Stabilization and Development (EFSD) managed by the Eurasian Development Bank (EDB), during EFSD delegation’s visit to Bishkek (Kyrgyz Republic), to discuss the implementation of EFSD investment projects in the country, including the reconstruction of the Bishkek–Osh road (Phase IV).
In addition, Andrey Shirokov met with Daniyar Sydykov, Head of the Foreign Policy Department at the Executive Office of the President of the Kyrgyz Republic, to talk over progress under the understandings reached earlier between the President of the Kyrgyz Republic Sooronbay Jeenbekov and Andrey Shirokov in respect of the implementation of the EFSD’s current projects in the country. Both sides expressed their appreciation of bilateral cooperation and hopes for the further development 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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