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BISHKEK (TCA) — The Eurasian Fund for Stabilisation and Development (EFSD) Council members have supported an investment loan to Kyrgyzstan in the amount of US $110 million to be funded with EFSD resources with the aim to finance the project of Commissioning of the Second Hydroelectric Generating Unit at Kambarata hydro power plant (HPP) 2. The decision was made at the meeting of the EFSD Council on September 23 in Moscow. It was attended by members of the EFSD Council – Ministers of Finance of the EFSD member states – and chaired by Anton Siluanov, Minister of Finance of the Russian Federation. The range of the meeting participants also included experts, as well as representatives of Eurasian Development Bank, the Fund’s Resources Manager, the EDB Media Centre said. Continue reading
BISHKEK (TCA) — Eurasian Development Bank (EDB) says it has opened a credit line of US $5 million to Halyk Bank Kyrgyzstan OJSC. The agreement was signed on 2 September by Dmitry Ladikov-Roev, Managing Director, Asset and Liability Management, EDB, and Kastoru Mamytova, Board Chairman, Halyk Bank Kyrgyzstan. Continue reading
DUSHANBE (TCA) — Tajikistan has received the first, US $20 million tranche of the financial credit from the Eurasian Fund for Stabilisation and Development (EFSD) managed by Eurasian Development Bank (EDB). The tranche was extended as a result of the country's compliance with all the conditions precedent for its provision set forth by the Resolution of the EFSD Council dated 8 December 2015 and the Loan Agreement signed on 15 August 2016 between EDB and the Republic of Tajikistan, EDB said. Continue reading
DUSHANBE (TCA) — Eurasian Development Bank (EDB), as the Resources Manager of the Eurasian Fund for Stabilisation and Development (EFSD), and the government of Tajikistan signed a US $40 million financial credit agreement on August 15. The credit will be provided to support economic reforms in the country in 2016-2017 in two equal tranches, EDB said. Continue reading
DUSHANBE (TCA) — The Eurasian Development Bank (EDB) is considering participation in the rehabilitation of the Nurek hydropower plant in Tajikistan. This was discussed at the meetings of EDB Chairman Dmitry Pankin with Tajikistan Prime Minister Kokhir Rasulzoda and Tajik Finance Minister Abdusalom Kurboniyon in Dushanbe last week. Continue reading
BISHKEK (TCA) — Despite the risks that remain due to low raw material prices and the condition of the global economy, the development of Eurasian Development Bank (EDB) countries (Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan) in the first six months of 2016 suggests they do adapt gradually to the shocks of several recent years. Negative trends in EDB economies that aggravated in 2015 because of falling raw material prices weakened to some extent, and the region's economies began to improve their macroeconomic indicators in the first six months of 2016, including leading indicators, the rates of exchange, inflation expectations, and stabilization in the financial markets, EDB said with reference to the findings made in The Macroeconomic Review prepared by the Chief Economist Group at EDB. Continue reading
