Eurasian Fund for Stabilization and Development council has taken a decision to allocate a 300-mln-USD loan to Armenia.
Interfax Agency informs that Sergey Storchak, the Deputy Finance Minister of Russia, has said that the Fund specialists are working on a programme for achieving loan purposes.
The loan is supposed to be allocated in three tranches with interim discussion elements. The deputy minister believes it will be within the scope of annual 1%.
The Anti-crisis Fund of the Eurasian Economic Community (ACF) in the amount of US$8.513 billion was established in 2009 by Armenia, Belarus, Kazakhstan, Kyrgyz Republic, Russia and Tajikistan. ACF's main goals are to assist member countries in overcoming the consequences of global financial crisis, to ensure their long-run economic stability and to foster economic integration. The ACF member states appointed EDB the manager of the Fund. As the ACF manager, EDB prepares and implements the Fund's programme. Russia has the biggest share in the Fund. The bank's representation in Armenia refused to comment on ArmInfo's question regarding the purposes of the loan. They have only said that the loan has not been allocated yet, it is just the political decision. Belarus has also turned to the Fund with a 3-bln-USD loan request.