Eurasian Fund for Stabilization and Development
The Eurasian Fund for Stabilization and Development (EFSD, before known as the EURASEC Anti-Crisis Fund) is a regional financial arrangement in the amount of US$ 8.5 billion. It was established by Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan in 2009.
EFSD mission is to help member countries ensure their long-run economic stability and foster economic integration between them.
EFSD is guided by members` finance ministries. Supreme decision-making body is EFSD Council consisting of members` Finance Ministers. Chairman is Anton Siluanov, Finance Minister of Russia.
The EFSD member states appointed EDB as the manager of the Fund. As the EFSD manager, EDB prepares and implements the Fund’s programme.
EFSD financial instruments are:
Financial Credits (FCs) are extended only to central governments to support stabilization programmes aimed at making their economies more resilient to external and domestic shocks. FCs support national budgets and/or the balance of payments.
Investment Loans (ILs) are available to governments and/or to companies implementing large investment projects that contribute long-term economic and financial stability and spur integration between member states.
Grants are available from the share of EFSD net profit for financing government programmes in social sphere.
EFSD credits and loans are repayable, have finite maturity, carry interest and are extended in US Dollars or Euros. While lending to low income countries, EFSD is guided by International Monetary Fund recommendations on loan concessionality. The prospective borrower should have no debt arrears to the Fund itself, to any of its member countries, or to other international financial institutions.
For more information please visit http://efsd.eabr.org/e/