ARMENIAN LARGE BUSINESS ENTITIES CAN BENEFIT FROM EURASEC FUNDS BY THE END OF 2010

PanARMENIAN.Net –
April 6, 2010 – 16:19 AMT 11:19 GMT

A working group has been established in Armenia to facilitate
applications to the EurAsEC Anti- Crisis Fund, RA Deputy Finance
Minister Vardan Aramyan said.

"The largest projects of transnational importance will be chosen to be
submitted for funding by the Fund," he told a PanARMENIAN.Net reporter.

Three or four projects in chemical, transport, metallurgy, information
technology industries are ready and preliminary applications are now
reviewed by the fund. The Deputy Minister expressed hope that the Fund
will make a final decision over Armenia’s projects by the end of 2010.

On April 1, 2010, RA Finance Minister Tigran Davtyan attended the
8th meeting of EurAsEC, where inter alia issues related to economic
and financial cooperation between EurAsEC member states, the course
of anti-crisis programs and the EurAsEC Anti-Crisis Fund activities
were discussed.

Upon completion of the meeting Russia’s Finance Minister Alexei Kudrin
said that any CIS country may join the Fund, paying a $1 million
contribution. However, he did not elaborate on terms or countries
which applied.