Eurasian Fund for Stabilization and Development transformed into independent organizationKazakhstan's President Kassym-Jomart Tokayev has signed the law on Establishing the Eurasian Fund for Stabilization and Development, the presidential press service reported.As previously reported, the protocol amends the agreement establishing the Eurasian Fund for Stabilization and Development (EFSD). The transformation of the fund into an independent subject of international law aims to separate it from the Eurasian Development Bank (EDB), which currently manages the fund's resources, due to the difference in their missions.The rationale for restructuring the fund is based on the need to use national currencies, provide technical assistance, utilize trust funds, and conduct systemic macroeconomic monitoring for the fund's member states.The document also stipulates the opening of a headquarters in Astana and the possibility of opening representative offices in participating states.The Eurasian Fund for Stabilization and Development was established in 2009 as a regional financial arrangement aimed at promoting the economic and financial stability of its participating states, which, besides Kazakhstan, include Armenia, Belarus, Kyrgyzstan, Tajikistan, and Russia. (ICE ALMATY)

Fonte notizia: INTERFAX