The President of the Kyrgyz Republic meets the executive director of the Eurasian Fund for Stabilization and Development
Bishkek, 19 November 2019. Sooronbay Jeenbekov, President of the Kyrgyz Republic, met with Andrey Shirokov, Executive Director of the Eurasian Fund for Stabilization and Development (EFSD) managed by the Eurasian Development Bank (EDB), during EFSD delegation's visit to Bishkek.
The parties discussed the EFSD current projects in the Kyrgyz Republic, new important investment and grant projects, and further cooperation between the country and the EFSD.
They noted positive effects of the joint work since the establishment of their cooperation and expressed confidence that it will develop fruitfully in the future.
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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