Eurasian Fund for Stabilization and Development to be involved in Armenia’s infrastructure projects
YEREVAN, 21 May. /ARKA/. Armenia’s Vice Prime Minister Mher Grigoryan and Managing Director of the Eurasian Fund for Stabilization and Development (EFSD) Andrey Shirokov discussed the Fund’s involvement in Armenia’s infrastructure projects, the press service of the Armenian government reported on Tuesday.
Grigoryan stressed the importance of Armenia-EFSD joint projects and presented reforms planned by the current government to Shirokov, pointing out potential cooperation with the EFSD in key areas.
The parties also pointed out the importance of Armenia’s participation in large regional projects.
The Eurasian Fund for Stabilization and Development (EFSD) is a regional financial arrangement with a volume of more than $9 billion, established in 2009 by Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan. The goal of the EFSD is to promote economic and financial stability and to support sustainable development in its member states. The Fund announced on Monday that it would provide a $100 million loan to Armenia; its total portfolio in Armenia is roughly $540 million.
