ArmInfo. Armenian Finance Minister Atom Janjughazyan received representatives of the Eurasian Stabilization and Development Fund (EFSD). According to the press service of the Armenian Ministry of Finance, during the meeting the parties discussed the main activities of the Foundation and joint work in this context. The importance of improving the effectiveness of the programs implemented by the EFSD was noted.
The EFSD (earlier EurAsEC Anti-Crisis Fund) is a regional financial mechanism worth $ 8.5 billion. In 2009, Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan founded it. In particular, the fund provides financial loans to governments to support the budgets or balance of payments of member states. The Eurasian Development Bank (EDB) manages the funds of the EFSD. The EDB is an international financial organization established by Russia and Kazakhstan in January 2006 with the aim of promoting the development of the market economy of the participating states, their sustainable economic growth and the expansion of mutual trade and economic ties. The Bank's member states are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.
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