Almaty, 10 June 2011. The EurAsEC Anti-Crisis Fund (ACF) has begun to review and evaluate Armenia’s state programme to restructure certain industries in accordance with the priorities of the country’s government. This is done as preparation for the ACF’s funding for Yerevan.
In addition to the Fund’s Expert Council, a number of independent advisers are involved who should make recommendations regarding the financial credit to the Armenian government. The prerogative to make such decisions belongs to the ACF Council.
The first mention of that a US$400 million loan can be provided to the Armenian government through the ACF was made by Alexei Kudrin on 4 June in Kiev after a session of the ACF Council.
Additional Information
The EurAsEC Anti-Crisis Fund (ACF) amounting to US$8.513 billion was formed on 9 June 2009 by the governments of six countries: Armenia, Belarus, Kazakhstan, Kyrgyz Republic, Russia, and Tajikistan. The objectives of the ACF are to assist the member countries in overcoming the consequences of global financial crisis, ensure their economic and financial stability, and foster integration processes in the region. The ACF member countries signed the Management Agreement with the Eurasian Development Bank giving the EDB the role of ACF funds’ Manager.
