Tajikistan to attract $40 million Eurasian Fund loan to support the state budget

Almaty. July 14. Silkroadnews – To support the state budget Tajikistan plans to attract $40 million Eurasian Fund loan, Tajik Telegraph Agency (TajikTA) reported on Thursday.

“Tajikistan is in talks to attract another loan from the Eurasian Fund for Stabilization and Development (EFSD) (before known as the EURASEC Anti-Crisis Fund – Silkroadnews). In particular, the point in case is about getting another tranche in the amount of $40 million to be directed to support the state budget,” confirmed the source in Tajikistan’s Ministry of Finance.

Back in 2010 the government has already attracted this organization’s funds in the amount of $70 million for the same purpose.

Meanwhile, as press release on the website of Russia’s Ministry of Finance says, EFSD, which funds are managed by the Eurasian Development Bank (EDB), has announced the first round of tender for provision of grants out of the EFSD states’ funds to the fund’s member states to finance the social projects in Armenia, Kyrgyzstan and Tajikistan.

According to the source, grants are to be provided to finance projects such areas as education, health care, improvement of efficiency in public administration, social protection and security, food security.

It is reported, the total amount of EFSD funds available to provide grants within the first round stands at around $10 million. The amount of funding per project is between $0.5 million and $2 million for the projects with lead times of up to 1.5 years, and between $2 million and $5 million for the projects with lead time from 1.5 years and more.

The Eurasian Fund for Stabilization and Development (EFSD, before known as the EURASEC Anti-Crisis Fund) is a regional financial arrangement in the amount of $ 8.513 billion, established in 2009 by Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan.