FIRST SESSION OF THE "ANTI-CRISIS FUND" ESTABLISHED WITHIN THE FRAMEWORK OF EURASEC TO BE CONDUCTED BY THE END OF THE RUNNING YEAR

ARMENPRESS
NOVEMBER 30, 2009
YEREVAN

YEREVAN, NOVEMBER 30, ARMENPRESS: According to the initial information,
the first session of the "Anti-Crisis Fund" established within the
framework of EurAsEc will be conducted by the end of the running
year. Armenian Finance Minister Tigran Davtyan said after the session
in Minsk that the Board of the Fund consists of finance ministers
of EurAsEC member states and will be headed by the Russian finance
minister. The fund has been established by the EurAsEC member states to
give an opportunity to involve additional resources for implementation
of anti-crisis programs in the countries.

The total capital of the fund is 8.5 billion USD and the main donor
country is Russia which has invested 7.5 billion USD, Kazakhstan
invested 1 billion USD. Armenia’s participation will be 1 million USD.

"Armenia in EurAsEC Inter-State Council has status of an observer which
gives an opportunity to actively participate in all the processes
taking place within the framework of EurAsEC. As a result of our
small investment in the newly formed "Anti-Crisis Fund" we will have
an opportunity to make use of EurAsEC anti-crisis resources," T.

Davtyan said.

He said with it a number of programs will be implemented. "We have
already prepared a number of programs which will in near future be
presented to the discussion of the Board," T. Davtyan said.

As to Armenia’s participation in works of the to be created "High
Technology Center" within the framework of the EurAsEC, T. Davtyan
said it supposes a more free format and there are relevant institutions
which have been authorized to work in that format.

Armenia has suggested "Enterprises Incubator Foundation" which has
quite big experience in the IT sphere.