Eurasian Development Bank announces second tender to select social projects to be financed

02.11.2017 17:01
Eurasian Development Bank announces second tender to select social projects to be financed

YEREVAN, November 2. /ARKA/. The Eurasian Development Bank (EDB), acting as the Manager of the Eurasian Fund for Stabilization and Development (EFSD, or Fund), has announced the second tender to select social projects to be financed with EFSD grants. The list of invitees includes the Republic of Armenia, the Kyrgyz Republic, and the Republic of Tajikistan.

Grants are to be provided to finance projects in such areas as education, health care, public governance, and social security, including food security. The amount of EFSD funds available for distribution in the form of grants within the framework of the second tender is about $14,459.9 thousand. Bids will be accepted until January 15, 2018 (including that date).

The Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 to promote development of market economies of its member states, and secure their sustainable economic growth and expansion of their mutual trade and economic ties. The charter capital of the EDB is $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.

The Eurasian Fund for Stabilization and Development (EFSD) in the amount of $8.513 billion was established on June 9, 2009, by the governments of the same six countries. 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 states authorized the EDB to act as the Fund Manager, and signed a Fund Management Agreement with the Bank. -0-


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