EFSD to establish its headquarters in Astana
The Senate of the Kazakh Parliament on Thursday approved the law amending the Treaty on the establishment of the Eurasian Fund for Stabilization and Development (EFSD), Kazinform News Agency correspondent reports.
Established in 2009, the Eurasian Fund for Stabilization and Development is expected to promote economic and financial stability across its member states, which include Kazakhstan, Armenia, Belarus, Kyrgyzstan, Tajikistan and Russia.
The law paves the way for the Fund’s transformation into an independent entity of international law after it spins off from the parent Eurasian Development Bank. It also provides for setting up a headquarters in Astana as well as representative offices in its member countries.
The Fund is expected to use national currencies for financing projects and programs as well as create trust funds to support specific projects.
The Eurasian Fund for Stabilization and Development is designed to offer technical assistance, external regional or global expertise as well as systemic macroeconomic monitoring.
Earlier it was reported that Kazakhstan’s GDP grew 6% year-over-year in January-May 2025.
