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EDB ANNOUNCES PROVISION OF $150 MILLION LOAN TO ARMENIA BY ACF
CISTran Finance
July 9 2014
July 9, 2014 8:00 AM
By Lisa Barron
The Eurasian Development Bank announced last week that the Council of
the EurAsEC Anti-Crisis Fund (ACF) has decided to prove a $150 million
loan to Armenia for construction of phase four of the North-South
Road Transport highway.
The ACF Council approved the EDB's proposal to use the World Bank
Procurement Policies in the project and involve specialists from
the bank in its monitoring. The council also approved ideas for two
investment projects submitted by Kyrgyzstan and asked the EDB to
choose consultants to evaluate the plans.
The projects include reconstruction of the Toktugul HPP, including
the replacement or repair of units two and four, and the commissioning
of unit two at Kambarata HPP 2.
In addition, the council approved the ACF Resources Manager's Annual
Report for 2013 and discussed the funds work for this year.
The EDB was founded by Russia and Kazakhstan in January 2006 to
assist with the development of market economies, sustainable growth
and mutual trade and economic ties between member states.
The ACF, which totals $8.5 billion, was formed on June 9, 2009 by
Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan to
help member countries overcome the impact of the global financial
crisis and ensure their economic stability.
CISTran Finance
July 9 2014
July 9, 2014 8:00 AM
By Lisa Barron
The Eurasian Development Bank announced last week that the Council of
the EurAsEC Anti-Crisis Fund (ACF) has decided to prove a $150 million
loan to Armenia for construction of phase four of the North-South
Road Transport highway.
The ACF Council approved the EDB's proposal to use the World Bank
Procurement Policies in the project and involve specialists from
the bank in its monitoring. The council also approved ideas for two
investment projects submitted by Kyrgyzstan and asked the EDB to
choose consultants to evaluate the plans.
The projects include reconstruction of the Toktugul HPP, including
the replacement or repair of units two and four, and the commissioning
of unit two at Kambarata HPP 2.
In addition, the council approved the ACF Resources Manager's Annual
Report for 2013 and discussed the funds work for this year.
The EDB was founded by Russia and Kazakhstan in January 2006 to
assist with the development of market economies, sustainable growth
and mutual trade and economic ties between member states.
The ACF, which totals $8.5 billion, was formed on June 9, 2009 by
Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan to
help member countries overcome the impact of the global financial
crisis and ensure their economic stability.