EDB to finance social projects in Armenia and Kyrgyzstan  

ArmInfo. Eurasian Development Bank (EDB), as the Resources Manager of the Eurasian Fund for Stabilisation and Development (EFSD), announced the first competition for EFSD grants for the member states' projects in the social sphere. Armenia, Kyrgyzstan and Tajikistan are invited to take part in the competition, according to the EDB's official website.

Grants will be provided to finance projects in education, healthcare, public governance, and social support and protection, including food security. 

The total amount made available by the EFSD for grants in the first competition approximates US $10 million.  The amount of finance provided per project will be in the range between US $0.5 million to US $2 million for projects with an implementation period up to 1.5 years, and between US $2 million and US $5 million for projects with an implementation period of 1.5 years and more. The deadline for applications is 30 September 2016 (inclusively). 

Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. EDB's charter capital totals US $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.