The EFSD Council decides to allocate US $100 million to support economic reforms in the Republic of Armenia
Yerevan, 7 May 2024. On 6 May 2024, the Council of the Eurasian Fund for Stabilization and Development (EFSD) adopted a decision to finance economic reforms in the Republic of Armenia in the amount of US $100 million. The funds are provided following the implementation of the Reform Programme of the Government of the Republic of Armenia and will be used for budget support in 2024.
The Programme envisaged measures for increasing the economic growth potential, improving the efficiency of the labour market and sustainable development.
The Eurasian Fund for Stabilization and Development (EFSD) is a regional financial arrangement totalling US $9 billion, established in 2009 by the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan. The EFSD aims to promote economic and financial stability in its member states and support their sustainable development.
The EFSD Press Service: