YEREVAN, DECEMBER 6, ARMENPRESS. The Eurasian Fund for Stabilization and Development the assets of which is managed by the Eurasian Development Bank has affirmed the disbursement of the second loan tranche of $ 100 million to the Republic of Armenia. As “Armenpress” was informed from the press service of the EDB the transfer of the sum will take place in 2017.

The key areas of reforms supported under the EFSD programme include strengthening the financial soundness of the energy sector, raising the efficiency of the public finance management, and improving the investment climate.

Armenia has already received $40 million loan for modernizing irrigation systems and $150 million for the construction of the the 4^th stage of “North-South” highway.

On November 4, 2015, an agreement was signed to provide Armenia with 300 million USD loan as a budget assistance program with 100 million USD tranches annually.

Eurasian Development Bank (EDB) 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. 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 six countries. The objectives of the EFSD 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 EFSD member countries signed the Fund Management Agreement with EDB giving it the role of the EFSD Resources Manager.