EDB delegation visits the Kyrgyz Republic

Bishkek, 31 July 2015. On 30-31 July 2015 Eurasian Development Bank’s (EDB) delegation headed by Dmitry Pankin, Chairman of the Management Board, visited the Kyrgyz Republic.

During the visit Dmitry Pankin met with Kyrgyzstan’s Prime Minister Temir Sariyev. The parties discussed the current results of EDB’s work in Kyrgyzstan and key areas for its future operations in the country.

In addition, the EDB delegation had meetings and talks with Minister of Transport and Communications Argynbek Malabayev and Vice PrimeMinister of Kyrgyzstan Valery Dil. The parties discussed the work of EDB and the Eurasian Fund for Stabilisation and Development (EFSD), the resources of which are managed by EDB, as well as potential joint investment projects and programmes.

EDB and the Kyrgyz government signed an agreement on the provision of a US $100 million investment credit from the EFSD to finance Phase 2 of the Toktogul HPP rehabilitation project. The EFSD funds will be used to finance the recovery of the plant’s Unit 2 and 4, as well as gates and hydraulic structures.

The EFSD has five projects in Kyrgyzstan: Phase IV of the Bishkek-Osh road reconstruction; financing agricultural machinery supplies to the Kyrgyz Republic; Phase 2 of the Toktogul HPP rehabilitation; commissioning of Unit 2 at Kambarata HPP-2; and construction of distribution infrastructure in the Kyrgyz Republic to export agricultural produce to the Customs Union. The overall value of these projects is US $285 million.

Additional Information

Eurasian Development Bank 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. 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. Read more at https://

The Eurasian Fund for Stabilisation and Development (EFSD) amounting to US$8.513 billion was formed as the EurAsEC Anti-Crisis Fund on 9 June 2009 by the governments of six countries: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. The objectives of the Fund are to assist its member countries in overcoming the consequences of the global financial crisis, ensure their economic and financial stability, and foster integration processes in the region. The Fund's member countries signed the Fund Management Agreement with Eurasian Development Bank giving it the role of the Fund's Resources Manager. 

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