On May 20, the RA Finance Minister Vahe Hovhannisyan received Mr. Andrey Shirokov, executive director of the Eurasian Stabilization and Development Fund.
During the meeting, the parties discussed issues related to the construction of a 7 km long tunnel near Kajaran within the framework of the construction of the North-South road corridor and the financing of the reconstruction project of the existing Yerevan-Yeraskh-Goris-Meghri-Armenian state border road. The Minister highly appreciated the Fund's participation in such a key project.
Reference was made to the details of several investment and grant programs implemented by the Foundation, including the technical assistance program aimed at improving the quality of financial reports of public sector organizations.
The parties emphasized the importance of the mid-term assessment of the implementation of the ESDF 2022-2026 strategy and the strategies of the member states and agreed to schedule a detailed discussion of the latter by the end of May.
At the end of the meeting, the official signing ceremony of the agreement on providing a financial loan of 100 million US dollars from the funds of the Eurasian Stabilization and Development Fund took place.
The Eurasian Stabilization and Development Fund (ESDF) is a regional financial institution with assets in excess of $9 billion, established in 2009 by the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Republic of Kyrgyzstan, the Russian Federation, and the Republic of Tajikistan. The purpose of the fund is to support the economic and financial stability of the participating states, as well as their sustainable development.
The Fund's portfolio in the Republic of Armenia includes several projects amounting to over 540 million US dollars.
