The EFSD Project Block’s mission visits Tajikistan
Moscow, 5 March 2019. The Project Block of the Eurasian Fund for Stabilization and Development (EFSD) managed by the Eurasian Development Bank (EDB) visited Tajikistan with a mission from 25 February to 1 March 2019. The main objective of the mission was to negotiate the agreement on the investment credit to be extended by the EFSD for the Nurek HPP Rehabilitation (Phase 1) Project with the Tajik delegation headed by Minister of Finance Faiziddin Qahhorzoda.
The EFSD’s experts met with representatives of the Ministry of Justice, the Ministry of Foreign Affairs, the Ministry of Economic Development and Trade, the Ministry of Energy and Water Resources, the State Committee on Investment and State Property Management, the Tax Committee of Tajikistan, as well as Barqi Tojik and Nurek HPP to jointly review the draft agreement. The document is expected to be signed after approval by the EFSD Council.
In December 2018, the EFSD Council approved financing for the project to the tune of US $40 million.
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 Stabilisation 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:
Alexander Savelyev +7 (985) 765 23 59 (Moscow)
Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)