EFSD to finance social projects in Kyrgyzstan and Tajikistan

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BISHKEK (TCA) — The Eurasian Fund for Stabilization and Development (EFSD) will extend grants to finance health care projects in Kyrgyzstan and Tajikistan.

In Kyrgyzstan and Tajikistan, EFSD will support organization of special-purpose preventive medical examinations of people living in mountainous and remote areas using mobile medical units, the so-called Health Caravans. EFSD funds will be used to purchase Health Caravan road-trains (two for each country) and arrange for their subsequent operation with a view to increase primary health care coverage of the local population. Each road-train will consist of three mobile medical units with seven consultation rooms, and a crew bus.

During the visit to these countries in September, Fund experts conducted an in-depth discussion on grant award mechanics with the participation of government bodies responsible for implementation of health care projects, and had a series of meetings with representatives of the two countries’ Ministries of Finance. During the negotiations, EFSD experts noted that proposed grant recipients were strongly committed to successful completion of the projects. Based on consultation results, it is planned to draft, negotiate, and sign grant agreements between the EFSD and recipient states.

EFSD considers grants an important development tool. For the Fund, this is a new type of financing enabling the EFSD to use part of its net profit to support recipient states in eliminating problem areas in certain social domains, such as education, health care, public governance, social security and protection, including food safety.

The Eurasian Fund for Stabilization and Development (EFSD) in the amount of US $8.513 billion was established in 2009 by the governments of Eurasian Development Bank (EDB) member countries. The objectives of the EFSD are to assist its member states in overcoming the aftermath of the global financial crisis, ensure their economic and financial stability, and foster integration within the region. The EFSD member states authorized the EDB to act as the Fund Manager.

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 US $7 billion. The member states of the Bank are Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, the Russian Federation, and Tajikistan.

Sergey Kwan

TCA