Information resource on donors activities
in the Kyrgyz Republic


The Eurasian Fund for Stabilization and Development


The Eurasian Fund for Stabilization and Development is a Regional Financing Arrangement. It was established by Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan in 2009.

EFSD mission is to assist member-countries in their long-run economic and financial stability. EFSD is guided by the members` finance ministries. Supreme decision-making body is EFSD Council consisting of members` Finance Ministers.

EFSD financial instruments are:

  • Financial Credits (FCs) are sovereign loans that support stabilization programs aimed at making member-economies more resilient to external and domestic shocks. FCs support sovereign budgets and/or balance of payments.
  • Investment Loans (ILs) are available to governments implementing critical infrastructure investment projects that contribute long-term economic and financial stability.
  • Grants are available to sovereigns for projects in social sphere: education, healthcare, public governance, social security and protection, including food security.

EFSD credits and loans are repayable and carry interest. In lending countries with low per capita income, EFSD takes into account loan concessionality recommendations of the International Monetary Fund. The prospective borrower should have no debt arrears to the Fund itself, to any of its member countries, and to other international financial institutions.

For more information please visit:

21, Erkindik blvd., Bishkek
720040, Kyrgyzstan
Tel.: +996 312 66 04 04 (ext. 2301)
Fax: +996 312 66 21 46

For information