The EFSD Council approves the results of the second grant competition

28 September 2020

Moscow, 28 September 2020. The Council of the Eurasian Fund for Stabilization and Development (EFSD) managed by the Eurasian Development Bank (EDB) approved the results of the second EFSD grant competition.

The following projects were approved after the review of the submitted applications:

  • Energy-Efficient Regions: Using Energy-Saving Mechanisms in Public Buildings and Promoting “Green Energy” Development in Armenia; and
  • Electronic Employment Agency in Armenia.

The Eurasian Development Bank will work on financing conditions with potential beneficiaries.

The estimated amount of financing to be extended by the EFSD to these two projects is approximately US $2.2 million.

The objective of the Energy-Efficient Regions: Using Energy-Saving Mechanisms in Public Buildings and Promoting “Green Energy” Development in Armenia project is to improve energy-saving in twenty public buildings, promote the development of infrastructure entities that provide energy services, and raise awareness among regional authorities about the effectiveness, principles, and mechanisms of obtaining energy-saving loans.

The Electronic Employment Agency project expects to create an online one-stop platform for employers and applicants in Armenia. The platform is intended to become an effective instrument to implement government employment policies.

Additional Information:

Eurasian Development Bank (EDB) is an international financial institution founded by the Russian Federation and the Republic of 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 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. 

The Eurasian Fund for Stabilization and Development (EFSD) amounting to US$8.513 billion was formed on 9 June 2009 by the governments of the same six countries. The EFSD assists its member countries in overcoming the consequences of the global financial crisis, ensuring their economic and financial stability, and fostering integration in the region. The EFSD member countries signed the Fund Management Agreement with Eurasian Development Bank giving it the role of the EFSD Resources Manager.  

The EDB Media Centre:

Alexander Savelyev +7 (985) 765 23 59 (Moscow)  

Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)

Sergey Gorbachev +7 (916) 727 22 00 (Moscow)