The EFSD Resources Manager carries out its activities in coordination with other international financial institutions, both in the area of economic policy recommendations, and with regards to specific investment projects. Such cooperation promotes the more efficient use of the Fund's resources.
We also participate in the activities of "donor clubs", which operate in three EFSD member countries — Kyrgyz Republic (Development Partners Coordination Council), Tajikistan (Development Coordination Council) and Armenia (informal network).
The Fund recently started building relationships with other Regional Financial Arrangements (RFAs), and plans to further develop this cooperation in the future.
The Eurasian Fund for Stabilization and Development has a status of a permanent member of the Multilateral Development Banks’ Heads of Procurement (MDB HoP) working group. Since 1998, MDB HoP members have met regularly to disseminate international best practices in procurement and explore opportunities for collaboration and mutual capacity building for their clients. In doing so, they keep in touch with other international organisations and agencies to help them improve their performance. MDB HoP members are the African Development Bank, the Council of Europe Development Bank, the Asian Development Bank, the World Bank, the European Bank for Reconstruction and Development, the Asian Infrastructure Investment Bank, the European Investment Bank, the Black Sea Trade and Development Bank, the Inter-American Development Bank, the Caribbean Development Bank, the Islamic Development Bank, and the Central American Bank for Economic Integration.
DCCT was established to improve cooperation and exchange of information between donors, as well as to identify, in consultation with the Tajik Government, priority sectors for development. Currently, the Council comprises 27 organizations. EFSD, takes an active part in the Council meetings and in discussing issues of public finance and energy sector reforms, which are priority areas for EFSD in Tajikistan.
The Development Partners Coordination Council (DPCC) has been established with the purpose of improving multi-way flow of relevant information among donors, government agencies and civil society institutions. This facilitates networking and broader collaboration within the donor community, a more constructive dialogue and shared vision with the Government of the Kyrgyz Republic on country’s priorities, and serves to strengthen overall aid coordination and management.
Today the Kyrgyz DPCC consists of 27 organizations. Coordination of donor activities covers implementation, financial accounting and audit evaluation of joint projects, review of project portfolios and harmonization of financial management and procurement procedures. The EFSD is presented in the structure of the Kyrgyz DPCC working groups on transport, energy, finance, investments and government finance.
The World Bank and EFSD started their cooperation in September 2009 by signing a Memorandum of Understanding. Since then, understanding has been reached on a number of collaboration mechanisms, e.g. cofinancing of projects in EFSD and World Bank member states, joint analytical work on sustainable economic development of these states, and the transfer to the ACF Resources Manager of World Bank’s accumulated experience in such corporate governance areas as procurement and financial management policies, environmental and social safeguards, risk management etc.
EFSD coordinates its activities both with the International Monetary Fund (IMF) program missions and with the IMF representative offices in Armenia, Belarus, Kyrgyz Republic, and Tajikistan. Cooperation is conducted in the framework of the general economic situation monitoring, and in the course of preparation and implementation of EFSD’s credits. Regular consultations allow the EFSD and the IMF to compare their vision of macroeconomic trends and economic development forecasts, improve estimates of the economic policy impact pursued by debtor nations and technical definitions of different indicators of macroeconomic situation. If necessary, joint support measures for financial stabilization programs implemented by the governments of member countries are defined.
Four of the EFSD member states (Republic of Armenia, Republic of Kazakhstan, Kyrgyz Republic and Republic of Tajikistan) are countries where the Asian Development Bank (ADB) conducts its operations as well. The two regional development banks have promising prospects for cooperating both on public sector projects (large-scale infrastructure facilities), and on private sector development.