Eurasian Development Bank gives details on meeting with World Bank delegation on trust fund operating mechanism

/KASE, September 28, 12/ - Eurasian Development Bank, whose bonds are officially listed at Kazakhstan Stock Exchange (KASE) has provided KASE with the following press-release of September 28, 2012: quote Eurasian Development Bank (EDB) as the EurAsEC Anti-Crisis Fund (ACF) Resources Manager had a working meeting with the World Bank's (WB) delegation to discuss the mechanism of operation of the trust fund. The trust fund was established under the Agreement to Implement in 2012Ч2015 the Programme for Developing the Project Preparation Capacity of Eastern European and Central Asian Countries. The Russian Ministry of Finance provided funds to the tune of US $23 million and transferred them to the WB for management. The trust fund was established to speed up and improve the quality of the preparation of investment projects and to strengthen institutional potential by providing grants to low-income countries in Europe and Central Asia. At the meeting EDB and the WB discussed the rules, procedures, criteria and timeframes for preparing applications for grants which will be financed by the ACF in Armenia, Kyrgyzstan and Tajikistan. Representatives of EDB's representative offices in Yerevan and Bishkek took part in the meeting by means of a video conference. Resolutions to award grants (usually twice a year) are taken by the Steering Committee comprising representatives of the Russian Ministry of Finance and the WB. EDB takes part in the work of the committee as an observer. For additional information please contact: Yulia Ostroukhova, +77019912843, +79067701672 Mikhail Mzareulov, +7 9032446025 pressa@eabr.org unquote [2012-09-28]