Russia: Eurasian Economic Community sets up own bank

Channel One TV, Moscow
22 Jun 05

[Presenter] The Interstate Council of the Eurasian Economic Community,
or EAEC for short, met in Moscow today. The meeting was attended by
the leaders of the five members countries of the organization, Russia,
Belarus, Kazakhstan, Kirgizia [Kyrgyzstan] and Tajikistan. Armenian
President Robert Kocharyan attended as an observer. The EAEC expects
to have new partners.

[Vladimir Putin] The Eurasian Economic Community is developing quite
dynamically. Not only is it achieving its own integration tasks but it
is gradually gaining authority as an international regional
organization, becoming ever more interesting and attractive to our
partners in the post-Soviet space, and I am sure that it will also
gain similar authority in contacts with our other partners.

[Presenter] Several documents were signed at the summit today,
including a blueprint for currency cooperation. An interstate EAEC
bank will be set up. The first payments of 1.5bn dollars into the
bank’s accounts will be made by Russia and Kazakhstan.