EurAsEc anti crisis fund may start operating by end of October 2009

PanARMENIAN.Net - RF Finance Minister Aleksey Kudrin reported that EurAsEc anti crisis fund may start operating by end of October 2009. "Russia is waiting for EurAsEc member to ratify the agreement, yet at the moment Belarus is hampering the process," RF Finance Minister stated.



Aleksey Kudrin noted that Russia has already ratified an agreement on fund creation and is ready to contribute. "EurAsEc committee will be convened and the fund launched as soon as the agreement is ratified by all EurAsEc member states," he noted.



EurAsEc Fund establishment agreement was signed on July 9, 2009 in Moscow, stipulating for $10 billion anti-crisis fund creation. Upon agreement ratification, EurAsEc member states will transfer 10% of their contributions to the fund, telegraf.by reported.



Russia will contribute $ 7,5 billion, Kazakhstan -$1billion, Kirgizia, Tajikistan and Armenia - $1 million each. Contribution of Belarus will comprise $10 million.