State Duma approves Eurasec anti-crisis fund
16:54, 15 July 2009
MOSCOW. July 15. KAZINFORM Russia's State Duma ratified on Wednesday a treaty to establish an anti-crisis fund within the Eurasian Economic Community.
At a recent summit in Moscow, Eurasec members agreed to create the fund to help deal with economic and financial problems within the organization.
Russia's contribution to the $10 billion fund, which is designed to finance transnational investment projects and provide loans to member states, is expected to be $7.5 billion.
The Eurasian Economic Community, established in 2000, comprises Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan. Three other former Soviet republics - Armenia, Moldova and Ukraine - have observer status, Kazinform refers to RIA Novosti.
See www.en.rian.ru