The EFSD takes part in a meeting of international financial institutions operating in Central Asia and the Caucasus

13 April 2021

Moscow, 13 April 2021. Representatives of the Eurasian Fund for Stabilization and Development (EFSD) managed by the Eurasian Development Bank (EDB) took part in a meeting of international financial institutions operating in Central Asia and the Caucasus. The event is traditionally organised by the International Monetary Fund (IMF) as part of the IMF/World Bank Spring Meetings.

The participants shared their views of the development status and prospects of the region’s countries. IMF representatives described the first steps in the work of the recently established Regional Capacity Development Center for the Caucasus, Central Asia, and Mongolia in Almaty.

The EFSD reported on the assistance the Fund had provided to countries in response to the COVID-19 crisis, assessed the economic challenges faced by the region’s states during recovery, and outlined its plans to support the member economies.

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 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)

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