Eurasian Development Bank to distribute $10 million among Armenia, Kyrgyzstan and Tajikistan in grants

12.07.2016 16:01
Eurasian Development Bank to distribute $10 million among Armenia, Kyrgyzstan and Tajikistan in grants

YEREVAN, July 12. /ARKA/. The Eurasian Development Bank, which runs the Eurasian Stabilization and Development Fund’s financial resources, has announced the first tender to distribute grants among the fund participant countries for implementing social projects, the press office of the bank reports.

Armenia, Kyrgzstan and Tajikistan are invited to take part in the tender.

The grants will be provided for implementing projects in the following areas: education, healthcare, state administration effectiveness, social security and food safety.

The amount to be distributed in grants through the first tender is $10 million.

The sizes of grants to be provided for up-to-1.5-year projects range from $0.5 million to $2 million.

The application submission deadline is September 30, 2016.

Up to 10% of the Eurasian Stabilization and Development Fund’s net profit may be allocated every year for providing grants to Armenia, Kyrgyzstan and Tajikistan.

The Eurasian Development Bank’s credit exposure in Armenia through the Eurasian Stabilization and Development Fund amounts to $515 million.

The Eurasian Stabilization and Development Fund ($8.513 billion) was established on June 9, 2009 by Russia, Belarus, Kazakhstan, Armenia Tajikistan and Kyrgyzstan to support economic stability in member countries.

The Eurasian Development Bank is an international financial organization established by Russia and Kazakhstan in January 2006 to contribute to economic growth and market economy development in member countries.

Its authorized capital amounts to $7 billion. Its participant countries are Armenia - $100,000, Belarus - $15 million, Kazakhstan $500 million, Kyrgyzstan - $100,000, Russia - $1 billion and Tajikistan - $500,000. --0---


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