The EDB assists the Ministry of Finance of the Kyrgyz Republic in assessing fiscal risks

21 December 2020

Moscow, 21 December 2020. The Eurasian Development Bank (EDB) hosted a workshop on the Global Practice in Assessing Fiscal Risks for the Ministry of Finance of the Kyrgyz Republic. The event was the final stage of a technical assistance project organised by the EDB aimed at providing economic development advice to its member states.

The EDB provided technical assistance at the request of the Ministry of Finance of the Kyrgyz Republic by engaging consultants and conducting research on the Global Practice in Assessing Fiscal Risks. Experts reviewed global practices to suggest methodologies for assessing fiscal risks for the Bank’s member countries.

The research results will promote the implementation of The Strategy for the Development of Public Finance Management in the Kyrgyz Republic for 2017-2025. “The public authorities of the EDB member countries are interested in identifying factors that may cause deviations from the planned fiscal indicators. This is necessary to devise economic development scenarios and effective fiscal policy responses to external shocks. The methodology for the systematic fiscal risk analysis includes a study of the fiscal system’s resilience to possible shocks, the development of fiscal sustainability indicators and recommendations to ensure fiscal sustainability,” said Evgeny Vinokurov, Chief Economist at the EDB and the EFSD.

The EDB provides technical assistance to fulfil its mission and enhance investments, including through cross-country, country, sectoral and innovative research aimed at promoting economic growth, the establishment and development of market economies in its member countries, as well as the expansion of trade and economic ties among them.

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 EFSD assists its member states in overcoming the consequences of the global financial crisis, ensuring their economic and financial stability, and fostering 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 Technical Assistance Fund is a flexible instrument that allows the Bank to quickly respond to the current development needs and challenges in its member states. The Fund strives to operate in line with global best practices and international standards of corporate governance.

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

www.eabr.org

 


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2021