The Eurasian Fund for Stabilization and Development (EFSD) Council decided on May 6, 2024, to provide the Republic of Armenia with $100 million in funding to support economic reforms.
According to the EFSD press service, the funds will be allocated to support the budget in 2024 and are provided based on the implementation results of the Armenian government's reform program.
The program aimed to enhance economic growth potential, improve labor market efficiency, and promote sustainable development.
The Eurasian Fund for Stabilization and Development (EFSD) is a regional financial mechanism with a volume of over $9 billion, 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 EFSD aims to promote economic and financial stability in its member states and support their sustainable development.
