The President of the Kyrgyz Republic meets with the Executive Director of the Eurasian Fund for Stabilization and Development
Moscow, 27 February 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 sides discussed issues around regional support as well as support to small and medium-sized enterprises in the Kyrgyz Republic. They also emphasised the value of their cooperation in the implementation of investment and grant projects and discussed the future of their partnership. In particular, they agreed to enhance cooperation in developing effective irrigation networks and improving the supply of pure drinking water to the country’s populated localities.
Andrey Shirokov also met with Baktygul Jeenbayeva, Minister of Finance, and Oleg Pankratov, Minister of Economy of the Kyrgyz Republic. They agreed to further cooperation in developing and promoting investment projects.
“The EFSD extends its full support to the long-term strategic development targets outlined in the National Development Strategy of the Kyrgyz Republic for 2018-2040 and the Kyrgyz Government’s Trust – Unity – Creation Programme, and expresses its readiness and hope for the further development of joint work,” Andrey Shirokov commented.
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.
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