The amount EurAsEC anti-crisis fund is USD 10 billion

PanARMENIAN.Net - On May 20 EurAsEC Financial and Economic Policy Council has adopted an anti-crisis action plan and set up an anti-crisis fund, vice premier and finance minister of Russia Alexei Kudrin told reporters following the EurAsEC session. The EurAsEC anti-crisis fund USD will amount USD 10 billion.



EurAsEC member states coordinated their aggregate contribution to the EurAsEC anti-crisis.

Russia will contribute USD 7.5 billion, Kazakhstan will allocate $1 billion, the rest USD 1.5 will be allocated by other members. Kyrgyzstan, Tajikistan and Armenia are pledged to contribute USD1 million each. Representative of Belarus couldn't specify the terms and the amount.



Taking into account that finance ministries of Armenia and Russia signed on May 20 the agreement on providing Yerevan with USD 500 million credit, apparently Russia will have to save its neighbors from the consequences of the world crisis. Yet, next year Russian authorities intend to resort to the help of external holdings, "Rossiyskaya Gazeta" writes.



The fund will start working in three month, as soon as the relevant agreement is ratified. According to EurAsEC Secretary-General Tair Mansurov, economic situation in member countries is as tense as in the whole world. GDP reduced by 11 per cent over the first quarter, the industrial production and investments in basic capital dropped by 12 per cent. In that connection EurAsEC countries agreed to establish high technology center, which will help to boost economies of participating countries," Mr.Kudrin said.