EFSD to take decision next week on Armenia’s request for $300 million loan

21.10.2015 13:25
EFSD to take decision next week on Armenia’s request for $300 million loan

YEREVAN, October 20. / ARKA /. The Eurasian Fund for Stabilization and Development (EFSD) Board is very likely to take a decision next week on Armenia's request for a $300 million loan, Dmitry Pankin, chairman of the Management Board of the Eurasian Development Bank, told Tass.

"Next week we are going to consider Armenia’s application for the loan. The loan, repayable in 20 years, will be issued with a 10 year grace period and 2% interest rate,’ Pankin said.

The Eurasian Fund for Stabilization and Development (EFSD, before known as the EURASEC Anti-Crisis Fund) is a regional financial arrangement in the amount of US$ 8.5 billion. It was established by Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan in 2009.

EFSD mission is to help member countries ensure their long-run economic stability and foster economic integration between them. -0-


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