ARMENIA ANTICIPATES FUNDING FROM EURASEC ANTI-CRISIS FUND
Karen Ghazaryan

"Radiolur"
02.07.2009 18:44

A work group has been set headed by Deputy Minister of Finance Vardan
Aramyan to call funding from the EurAsEC Anti-Crisis Fund, Armenian
Prime Minister Tigran Sargsyan said at the government sitting today.

"Armenia has the chance to receive loan means from the Anti-Crisis
Fund, formed within the framework of EurAsEC, the volume of which
will make about $10bln," the Prime Minister stated noting that the
government has already sent two programs to the fund. The programs
are related to energy and chemistry spheres.

"The workgroup will cooperate with all departments and ministries
aiming at elaborating large-scale programs, necessary for Armenia,"
Tigran Sargsyan stated.

The Prime Minister stressed that the government is ready to hear
out constructive criticism and advice from opponents concerning the
placement of the Russian loan.

Tigran Sargsyan reminded that the government will leave a part of
the Russian loan in the Stabilization Fund in the Central Bank of
Armenia, and another part will be allocated to the reconstruction of
1988 Spitak earthquake zone, to the German-Armenian Fund aiming at
crediting small and medium entrepreneurship, and the Mortgage Fund of
Armenia, the Small and Medium Entrepreneurship Development National
Center and to crediting of backbone enterprises.

Accordi ng to Tigran Sargsyan, the positive influence of the Russian
loan on Armenian economy will mainly be felt in 2010 and to a lesser
degree in the third and fourth quarters of 2009.

From: Emil Lazarian | Ararat NewsPress