The EFSD Project Block visits the Kyrgyz Republic with a mission
The Project Block of the Eurasian Fund for Stabilization and Development (EFSD) managed by the Eurasian Development Bank (EDB) conducted a mission to the Kyrgyz Republic from 13 to 17 May 2019 to take part in a pre-bidding meeting for the Uch-Kurgan HPP Rehabilitation Project. The EFSD plans to finance this project in cooperation with the Asian Development Bank. At the meeting, Tractebel Engineering, project consultant, presented the structure and procedure for preparing and submitting bids.
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) is a regional financial mechanism totalling US $8.513 billion, established on 9 June 2009 by the governments of 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 Development Bank manages the EFSD's resources. The EFSD Project Block prepares and implements the Fund’s projects.
The Fund aims to assist its member states in ensuring economic and financial stability and support integration in the region. It is also part of the global financial safety net.