The Executive Committee of IFAS and Eurasian Development Bank towards the strengthening and enhancement of cooperation in the Central Asia region, especially in sphere of joint development and use of hydro-power resources and as a whole a sustainable development have concluded the Memorandum of mutual understanding for the purpose of expression of the intentions.

The Eurasian Development Bank is created by the Russian Federation and the Republic of Kazakhstan on January, 12, 2006. At present there is a process of joining to this bank the other Central Asian states.

The International Fund for saving the Aral Sea is a unique link between the countries of EurAsEC and Turkmenistan non-member of this interstate association. The Executive Committee of IFAS on its status urged to provide practical implementation of decisions of Heads of the Central Asia states and realization of corresponding projects and programs in the Aral Sea Basin. The Executive committee of IFAS and the Eurasian Development Bank stressing community of interests in the sphere of sustainable development of the Aral Sea Basin countries defined the spheres of possible cooperation. It is an analysis and exchange of information about perspective investment projects, especially in the hydro-power sphere, which realization is planned in partnership with the Executive Committee of IFAS and Eurasian Development Bank. As well as it is provided an interaction in other directions being of mutual interest and in particular in:

• research and preparation of proposals on joint target financing of investment projects;

• technical assistance on preparation of programs, analytical and other documents;

• carrying out of periodic consultations for advancement of joint activity;

• mutual invitation for corresponding international conferences, meetings, seminars;

• creation of joint working groups for preparation of proposals and recommendations on issues being of mutual interest.