Russia donates to the EFSD to finance the construction of schools in five cities of Tajikistan

29 December 2020

Moscow, 29 December 2020. The Russian Federation has donated to the Eurasian Fund for Stabilization and Development (EFSD) managed by the Eurasian Development Bank (EDB). The funds will be used to construct and equip secondary schools in five cities of Tajikistan – Dushanbe, Kulyab, Khujand, Bokhtar, and Tursunzade.

The agreement was signed by Timur Maksimov, Deputy Minister of Finance of the Russian Federation, and Andrei Shirokov, Acting Executive Director of the EFSD Project Unit.

The schools are being constructed under the Intergovernmental Agreement between the Russian Federation and the Republic of Tajikistan dated 17 April 2019.

Additional Information:

The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries – Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan. The EDB's charter capital totals US $7 billion. The Bank was established in January 2006 by Russia and Kazakhstan and is headquartered in Almaty. Transport infrastructure, energy, chemical, mining, and mechanical engineering projects with a high integration effect account for the main part of the EDB’s portfolio.

The Eurasian Fund for Stabilization 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.

The EDB Media Centre:

Alexander Savelyev +7 (985) 765 23 59 (Moscow)

Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)

Sergey Gorbachev +7 (916) 727 22 00 (Moscow)

pressa@eabr.org

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2021