Moscow, 11 July 2016. Eurasian Development Bank (EDB), as the Resources Manager of the Eurasian Fund for Stabilisation and Development (EFSD), announced the first competition for EFSD grants for the member states’ projects in the social sphere. Armenia, Kyrgyzstan and Tajikistan are invited to take part in the competition.
Grants will be provided to finance projects in education, healthcare, public governance, and social support and protection, including food security.
The total amount made available by the EFSD for grants in the first competition approximates US $10 million. The amount of finance provided per project will be in the range between US $0.5 million to US $2 million for projects with an implementation period up to 1.5 years, and between US $2 million and US $5 million for projects with an implementation period of 1.5 years and more. The deadline for applications is 30 September 2016 (inclusively).
Artak Azizyan, Head of Project Support and Planning at the EFSD, comments that, “The Resources Manager views the ‘grant window’ as an important catalyst for development. In this context, EFSD funds will allow financing initiatives to improve living standards in the Fund’s member states by solving important social problems.”
Detailed information about the competition is available online.
Additional Information:
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. 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.
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Additional Information:
The Eurasian Fund for Stabilisation and Development (EFSD) amounting to US$8.513 billion was formed as the EurAsEC Anti-Crisis Fund on 9 June 2009 by the governments of six countries: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. 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 processes 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.
Read more at http://efsd.eabr.org/e/
EDB Media Centre:
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