The EFSD undertakes a mission to the Kyrgiz Republic
Moscow, 30 March 2018. The delegation of the Eurasian Fund for Stabilization and Development (EFSD, Fund) visited Bishkek from 26 to 28 March 2018 to discuss how to optimise the monitoring of the EFSD’s investment project to finance agricultural equipment supplies to the Kyrgyz Republic, and to monitor preparations for the Caravan of Health grant to be extended to the country.
The delegation held a number of meetings and negotiations. A roundtable was organised to discuss the financing of agricultural equipment supplies with Kyrgyz ministries and institutions, as well as Aiyl Bank (the ultimate recipient of project funds) in order to improve the quality of and streamline project monitoring. The mission also made a field visit to inspect agricultural equipment and interview lessees about the quality of cooperation under the project.
In respect of the Caravan of Health project, the delegation met with the Ministry of Finance, the Accounts Chamber, the Compulsory Medical Insurance Fund and the National Hospital at the Ministry of Health to negotiate the terms and mechanisms of grant extension, including the legal and financial framework. In addition, the mission visited the National Hospital (grant beneficiary) to discuss project preparations. A respective grant agreement between the EFSD and the Kyrgyz Republic is planned to be prepared, agreed and signed as a result of these consultations.
The EFSD mission also made a presentation of the Fund’s activities for interested ministries and institutions to inform them about the EFSD grant window mechanism and discuss possible cooperation.
Additional Information:
Financing Agricultural Equipment Supplies to the Kyrgyz Republic is a US $20 million investment project financed by the EFSD since March 2014. The Fund has extended a loan facility for:
- the purchase of agricultural equipment to be further leased out to Kyrgyz farmers; and
- the development of agricultural equipment maintenance infrastructure in the Kyrgyz Republic.
The project aims to reduce poverty among the Kyrgyz rural population, develop small and medium-sized farms and produce an integration effect by enhancing agricultural exports to the Eurasian Economic Union and equipment supplies to the Kyrgyz Republic from the Fund’s member states.
The Caravan of Health is a US $2 million grant to the Kyrgyz Republic approved by the Fund’s Council in June 2017 as a result of the EFSD’s first grant competition for social projects. The project aims to sustainably improve primary health care and its accessibility for the population of rural and remote localities in the Kyrgyz Republic and envisions the purchase of two Caravan of Health road trains, the provision of organisational and methodological support for their work, and the conduct of preventive examinations.
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.
Read more about the EDB at https://eabr.org/
The Eurasian Fund for Stabilization and Development (EFSD) was 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.
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