Tue, 23 September
9.1 C
Yerevan
USD: 383.45 RUB: 4.60 EUR: 451.47 GEL: 140.98 GBP: 517.58

Armenia submits 28 applications to EDB for us $43.0 million worth grants

YEREVAN, January 26. /ARKA/. The Eurasian Development Bank (EDB), as the Resources Manager of the Eurasian Fund for Stabilization and Development (EFSD), has announced the results of a call for applications for the second EFSD grant competition for social projects. Armenia, Kyrgyzstan and Tajikistan were invited to participate.

The EFSD Secretariat received 46 applications for project finance, totalling US $84.5 million. Armenia submitted the greatest number of applications (28, for a total of US $43.0 million), followed by Kyrgyzstan (12, for US $25.4 million) and Tajikistan (6, for US $16.1 million).

EDB said the majority of submissions are projects in the area of social security, including food security (15), training and education (14) and public governance (11). In addition, 6 healthcare projects were proposed. The average requested per application approximates US $1.8 million.

The EDB, as the EFSD Resources Manager, began to appraise the submissions. When this process is over, the EFSD Council will be proposed recommendations on grant distribution.

The 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. The 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) was formed on 9 June 2009 by the governments of the same six countries. Its charter capital is US $8.513 billion. The EFSD assists its member countries in overcoming the consequences of the global financial crisis, ensuring their economic and financial stability, and fostering integration in the region. The member states of the EFSD appointed the EDB as its Resources Manager and Secretariat. -0-

spot_img

POPULAR

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Raiffeisen International organized inaugural “Days of Armenian Banks” in Vienna

Initiated by the Union of Banks of Armenia (UBA), the Raiffeisen Banking International (RBI) corporation hosted the first "Days of Armenian Banks" in Vienna, aimed at enhancing collaboration between the financial sectors of Armenia and Europe.

Net loan portfolio of Armenian banks in Q2 2025 increased by 6.11% to AMD 6.8 trillion

The combined loan portfolio of 17 Armenia-based commercial banks upped  by 6.11% in Q2 2025 compared to Q1 2025, amounting to AMD 6.82 trillion, according to a ranking compiled by  the ARKA news agency.

Stepan Gishyan foundation assists in organizing employment opportunities for young individuals with special needs (video)

For several months, four children with special needs from the Arvestaran educational and cultural center have been actively engaged in the Loshik social entrepreneurship program.

LATEST NEWS

spot_imgspot_imgspot_img