KazAID and EFSR will promote sustainable economic growth and development in the region

KazAID and EFSR will promote sustainable economic growth
and development in the region

7 November 2024, Astana - Arken Arystanov, Chairman of the Board of the Kazakhstan Agency of International Development «KazAID», and Andrey Shirokov, Managing Director of the Eurasian Fund for Stabilisation and Development (EFSD), signed a framework memorandum of understanding between the two institutions. The purpose of joint work is to promote sustainable economic growth and development in the region of operations common to KazAID and EFSR.

The Parties discussed possible joint areas of work, including funding of project activities, organisation and implementation of joint events, and promoting sustainable and balanced growth of the beneficiary states.

The Eurasian Fund for Stabilisation and Development (EFSD) is a regional financial arrangement in the amount of over 9 billion USD established in 2009 by the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation and the Republic of Tajikistan. The objectives of the EFSD are to promote economic and financial stability in its member states and to support their sustainable development.