EURASEC Interstate Council to establish Anti-Crisis Fund
12:36, 9 June 2009
MOSCOW. June 9. KAZINFORM The Heads of Government of the EURASEC (Eurasian Economic Community) member-countries meet here on Tuesday to adopt a plan for anti-crisis measures and establish an Anti-Crisis Fund. The meeting is to be attended by Russian Prime Minister Vladimir Putin, an official in the Russian government press service has told Itar-Tass; Kazinform refers to ITAR-TASS.
Along with the meeting of the EURASEC Interstate Council, a conference of the Supreme Body of the Customs Union is also to be held in the Russian capital on Tuesday with the participation of Russia, Belarus, and Kazakhstan at Premiers' level.
The Russian government press service official said, "Attention at the meeting in the format of EURASEC (Russia, Belarus, Kazakhstan, Kyrgyzstan, and Tajikistan) will be focused on stepping up collective anti-crisis efforts in the trade and economic fields. In particular, those present are to approve a plan for the implementation of joint measures to overcome the consequences of the world financial downturn. A Treaty on the Establishment of an Anti-Crisis Fund (ACF), as well as an Agreement with the Eurasian Development Bank on the Management of ACF Resources will be signed, with Armenia's participation".
It is supposed that the ACF will begin to function later this year. Its resources will be used to grant sovereign loans and stabilisation credits to the member-countries, as well as to finance interstate investment projects. Russia's share constitutes the bulk of the authorised capital of the ACF -- $7,500 million out of $10,000 million; Kazinform cites ITAR-TASS.
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