EFSD Council Approves Annual Report 2017

19 July 2018

Moscow, 25 June 2018. The Council of the Eurasian Fund for Stabilization and Development (EFSD), based on the outcomes of voting by correspondence, has approved the EFSD Annual Report 2017. The EFSD Annual report includes information on the activities undertaken by the Eurasian Development Bank in its capacity of the EFSD Resources Manager and related to manging and administering the EFSD resources in 2017. In addition to the Annual Report, the EFSD Council also took note of the EFSD Financial Statements for the year ending on 31 December 2017, accompanied by the Independent Auditor’s Report.

In 2017, pursuant to the implementation of the relevant Reform Programmes, the EFSD disbursed three tranches of the financial credit to the Republic of Belarus totalling US $800 million, as well as the final third US $100 million tranche of the financial credit to the Republic of Armenia. In addition, the EFSD Resources Manager signed an Investment Loan Agreement with the Kyrgyz Republic in the reporting year to support the project of commissioning of the second hydro generation unit of Kambaratinskaya HPP-2 in the amount of US $100 million.

The EFSD Annual Report 2017 is available at the EFSD website

Additional Information:

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) is a regional financing arrangement formed on 9 June 2009 by the governments of the same six countries. Its charter capital is US $8.513 billion. The EFSD assists its member countries in overcoming the consequences of the global financial crisis, ensuring their economic and financial stability, and fostering integration in the region. The member states of the EFSD appointed the EDB as its Resources Manager and Secretariat. 

The EDB Media Centre:

+7 (727) 244 40 44, ext. 6147 (Almaty) 

pressa@eabr.org

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