The Fund provides financial resources for projects designed to:

  • assist EFSD member states in overcoming the effects of the global economic crisis;
  • ensure long-run economic sustainability;
  • promote integration in the region.

The above objectives are met both by extending financial credits to member states governments in support of their budgets, balance of payments and currency exchange rate, and in the form of investment loans to governments or companies implementing interstate investment projects.

One mandatory eligibility criterion for such financial support consists in the inability to borrow from the capital market to enable full-scale implementation of the project.

The minimum amount of EFSD investment loans is set at US$30 million for countries with GNI per capita over US$ 5,000 and at US$10 million for all other countries. The minimum amount of EFSD financial credits is set at US$10 million.

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Funding type:

Project Country Funding type Sector Amount
US$ million
Status Date of
Improving Prevention and Control of Noncommunicable Diseases in Primary Health Care Armenia Grants Health 1 Under preparation 02/02/2018
Nurek HPP Rehabilitation (Phase I) Tajikistan Investment credit Energy 40 Under preparation 06/26/2017
Commissioning of the 2nd Hydroelectric Unit of the Kambaratinskaya HPP-2 in Kyrgyzstan (2016) Kyrgyzstan Investment credit Energy 110 Signed 09/23/2016
Toktogul HPP rehabilitation (PHASE 3, 2016) Kyrgyzstan Investment credit Energy 40 Signed 07/27/2016
Stabilization credit for Republic of Belarus (2016) Belarus Financial credit Budget support and/or balance-of-payments support 2000 Signed 03/25/2016
Construction of Mastara Reservoir in Armenia (2015) Armenia Investment credit Agriculture 25 Under preparation 12/09/2015
Budget support credit to Armenia (2015) Armenia Financial credit Budget support and/or balance-of-payments support 300 Signed 10/29/2015
Second financial credit for the Republic of Tajikistan (2015) Tajikistan Financial credit Budget support and/or balance-of-payments support 40 Signed 07/03/2015
Toktogul HPP Rehabilitation in Kyrgyz Republic (2015) Kyrgyzstan Investment credit Energy 100 Signed 07/03/2015
Financial credit to Belarus for strengthening the balance of payments (2014) Belarus Financial credit Budget support and/or balance-of-payments support 2560 Completed 07/02/2014
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