Armenian large business entities can benefit from EurAsEC funds by the end of 2010

PanARMENIAN.Net - A working group has been established in Armenia to facilitate applications to the EurAsEC Anti- Crisis Fund, RA Deputy Finance Minister Vardan Aramyan said.

“The largest projects of transnational importance will be chosen to be submitted for funding by the Fund,” he told a PanARMENIAN.Net reporter.

Three or four projects in chemical, transport, metallurgy, information technology industries are ready and preliminary applications are now reviewed by the fund. The Deputy Minister expressed hope that the Fund will make a final decision over Armenia's projects by the end of 2010.

On April 1, 2010, RA Finance Minister Tigran Davtyan attended the 8th meeting of EurAsEC, where inter alia issues related to economic and financial cooperation between EurAsEC member states, the course of anti-crisis programs and the EurAsEC Anti-Crisis Fund activities were discussed.

Upon completion of the meeting Russia’s Finance Minister Alexei Kudrin said that any CIS country may join the Fund, paying a $1 million contribution. However, he did not elaborate on terms or countries which applied.