Senate ratified treaty on establishment of EurAsEC Anti-Crisis Fund
ASTANA. December 11. KAZINFORM /Muratbek Makulbekov/ The Law On ratification of the Treaty on establishment of the EurAsEC Anti-Crisis Fund has been adopted at a plenary session of the Senate of the Kazakh Parliament. "The Anti-Crisis Fund was founded with the aim of overcoming the negative impact of the global financial and economic crisis by national economies, ensuring their economic and financial stability as well promoting further integration of the member countries", Vice Minister of Finances Ruslan Dalenov has said presenting the document. According to him the Law provides for initial contributions of the founder countries which make USD 10 mln for Belarus, USD 1 bln - for Kazakhstan, USD 1 mln - for Kyrgyzstan, USD 7.5 bln - for Russia, USD 1 mln - for Tajikistan and USD 1 mln - for Armenia. These funds will be spent for providing sovereign loans for the Anti-Crisis Fund's member countries in order to help overcome the consequences of the crisis,for extending stabilization credits for the Fund's member countries with low level of incomes and financing interstate investment projects.