EDB transfers the first tranche from the ESFD to Belarus

Almaty, 30 March 2016. — Eurasian Development Bank (EDB) transferred the first, US $500 million tranche of the financial credit from the Eurasian Fund for Stabilisation and Development (EFSD) to Belarus. The EFSD Council approved the tranche on 25 March 2016 following the Fund's Manager confirmation that Belarus has complied with all the eligibility criteria for the first tranche as of 1 March 2016.

Related materials:

The EFSD Council approves a financial credit for Belarus

Additional Information about the Bank:

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. 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.

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The Eurasian Fund for Stabilisation and Development (EFSD) amounting to US$8.513 billion was formed as the EurAsEC Anti-Crisis Fund on 9 June 2009 by the governments of six countries: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. 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 processes 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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