Today, July 13, the CAREC Institute and the Eurasian Fund for Stabilization and Development launched an official partnership by exchanging letters of intent for cooperation.
The two organizations decided to establish a new partnership to better serve their member countries in the CAREC region and contribute to regional economic development and stability by expanding cooperation in the areas of macroeconomic analysis, debt and financial sustainability, and support in the energy, transport, and water sectors. The Eurasian Fund for Stabilization and Development regularly participates in the CAREC Ministerial Conference and the CAREC High-Level Forum on Economic and Financial Stability.
The Eurasian Fund for Stabilization and Development is a regional financial arrangement in the amount of US$ 8.513 billion established by Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan to overcome negative crisis consequences, to provide long-run sustainability and to foster economic integration of its member countries. The fund provides the following assistance to the member states: 1) financial credits for budget support and (or) balance-of-payments support, available to governments only; 2) investment loans, provided either to EFSD member states or to companies; and 3) grants to finance government programs in the social sector.
As a regional knowledge broker, the CAREC Institute partners with national and international partners to provide high-quality research and capacity-building services and knowledge products which can be translated into effective policy actions for the benefit of countries in the CAREC region.