Council of the Eurasian Fund for Stabilization and Development (EFSD, former EURASEC Anti-Crisis Fund) may take a decision next week upon the request of Armenia on extending it a credit in the amount of $300 million.  Dmitry Pankin, Chairman of the Management Board at the Eurasian Development Bank (EDB), told the aforementioned to TASS at the 14th all-Russian Forum “Strategic Planning in the Regions and Cities of Russia: The Space for Choice and Choice of Space.”

“The $300 million credit to Armenia for the period of 20 years with 10 years grace period at 2% per annum will soon be considered,” Pankin said.  

He ascertained that the expert conclusion is ready and the agreement on the macroeconomic policy with the republic and terms of credit extension has been achieved. “Currently voting of the Fund Council (EFSD, managed by EDB) is underway and we expect the Council to adopt the decision this very week,” Pankin said.

EFSD is a regional financial mechanism with $8,5 billion. It was established in 2009 by Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan.