The Eurasian Fund for Stabilization and Development’s acting Executive Director meets with the Minister of Finance of Tajikistan
Moscow, 9 July 2019. Andrey Shirokov, acting Executive Director of the Eurasian Fund for Stabilization and Development (EFSD) managed by the Eurasian Development Bank (EDB), met with Faiziddin Qahhorzoda, Minister of Finance of Tajikistan, during EFSD delegation's mission to Dushanbe.
The sides discussed the Final Report on the Implementation of the Economic Policy Framework of the Government and National Bank of Tajikistan submitted by the Tajik side in the framework of the second financial credit extended by the EFSD to support economic reforms in Tajikistan in 2016-2017.
They also examined the implementation of the Nurek HPP Rehabilitation (Phase 1) Project and the Caravan of Health grant. The respective financing agreements were signed on 4 July 2019 by the Ministry of Finance of Tajikistan and the EDB as the EFSD Resources Manager.
The parties also discussed preparations for a project to construct and commission five schools in Tajikistan.
The negotiations made it possible to review the key aspects of cooperation. Both sides confirmed that the further strengthening of their mutually beneficial interaction would offer significant prospects for development.
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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