15:34, 09 December 2009 | GMT +5
Majilis ratifies Agr't on establishment of EurAsEC Anti-Crisis Fund
ASTANA. December 9. KAZINFORM. /Muratbek Makulbekov/ Majilis of the Parliament of Kazakhstan has approved a draft law "On ratification of the Agreement on establishment of the Anti-Crisis Fund of the Eurasian Economic Community" at its plenary sitting today.

The decision on establishment of EurAsEC Anti-Crisis Fund was made in December 2008 by the presidents of Kazakhstan, Kyrgyzstan, Russia, Tajikistan and Armenia at the informal summit in Borovoye.
The Fund was established for overcoming negative consequences of the world financial and economic crisis by the national economies, ensuring their economic and financial stability as well as promoting further integration of the Fund's participating states. Management of the Fund's resources is with the Eurasian Development Bank. The corresponding agreement was signed. The budget of the fund amounts to USD 8.513 billion.