The ACF Council approves three preliminary applications for the investment projects in Armenia and Kyrgyz Republic
Moscow, 27 June 2013. Yesterday the Council of the EurAsEC Anti-Crisis Fund (ACF) approved the blueprints for three investment projects and Manager’s evaluation reports, on the respective preliminary applications for ACF funding. These resolutions by the ACF Council authorise the preparation of feasibility studies for the projects.
The projects include one investment in Kyrgyzstan (the Financing of Agricultural Equipment Supplies to Kyrgyzstan) and two in Armenia (the Modernisation and Development of Institutional Opportunities of Irrigation Systems and the Construction of the North-South Road Transport Corridor (Stage 4)).
The ACF Council also approved the Letter of Intent of the Government and the National Bank of Belarus for 2013 proposing the terms for the provision of the final sixth tranche of the ACF financial loan to this country.
The Council approved the Annual Report of the ACF Resources Manager for 2012 and discussed implementation of the ACF Programme for the current year and other issues of its institutional development and operations.
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. EDB’s charter capital exceeds US $1.5 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. Read more at http://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 the same six countries. ACF’s objectives are to assist the member countries in overcoming the consequences of global financial crisis, to ensure their economic and financial stability, and to foster integration in the region. The ACF member countries signed the Management Agreement with Eurasian Development Bank, giving it the role of the ACF Resources Manager.
Read more at http://efsd.eabr.org/
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