of June 9, 2009
The Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, the Republic of Tajikistan and the Republic of Armenia (further - the founder states),
being guided by the decision of Interstate Council of Eurasian economic community (at the level of heads of states) of February 4, 2009 No. 415,
agreed as follows:
The founder states establish Anti-recessionary fund of Eurasian economic community (further - Fund) for the purpose of overcoming negative effects of world financial and economic crisis national economies, ensuring their economic and financial stability, and also for the purpose of assistance to further deepening of integration of economies of the State Parties of Fund.
Procedure for forming, placement and provision of fund, managements of fund, secession of members of Fund and the termination of transactions of Fund, and also the status of Fund are determined by the Regulations on Fonda which are appendix to this Agreement.
Fund is used for:
provisions of sovereign loans to the Fund State Parties for the purpose of overcoming negative effects of world financial and economic crisis;
provisions of stabilization loans to gosudarstvamuchastnik of Fund with the low level of the income;
financings of interstate investment projects.
Fund is provided on the terms of the paid nature, urgency and recoverability.
In that degree in what it is necessary for goal achievement of creation of Fund, and taking into account provisions of this agreement and Regulations on Fonda fund is free from any restrictions, instructions and moratoriums.
The size of the initial contributions of the founder states in Fund constitutes:
The Republic of Belarus - equivalent of 10 mln. dollars of the USA;
The Republic of Kazakhstan - equivalent of 1 bln. dollars of the USA;
The Kyrgyz Republic - equivalent of 1 mln. dollars of the USA;
The Russian Federation - equivalent 7, 5 bln. dollars of the USA;
The Republic of Tajikistan - equivalent of 1 mln. dollars of the USA;
The Republic of Armenia - equivalent of 1 mln. dollars of the USA.
The initial contributions are paid by the founder states within 6 (six) months to Fund from the effective date of this agreement and the Management agreement fund mentioned in Article 4 of this Agreement, in the following procedure:
10% (ten percent) of the amount stated above are paid to each of the founder states in US dollars and/or euro according to the procedure determined by Regulations on Fonda;
other 90% (ninety percent) are paid to each of the founder states by means of release of the simple, not turned and interest-free bill of exchange which repayment is performed according to the procedure determined by Regulations on Fonda.
Control of fund is exercised of Council of Fund which members are Ministers of Finance of the State Parties of Fund and representatives of the international organizations - members of Fund, together with the Managing director of fund according to the procedure, the provided Regulations on Fonda.
Accomplishment of functions of the Managing director of fund is assigned to Eurasian Development Bank (further - Bank) based on the Management agreement fund signed between the founder states and Bank.
Replacement of the Managing director of fund can be performed by members of Fund based on the offer of Council of Fund.
This Agreement after its entry into force is open for accession of other states and international organizations.
This Agreement becomes effective for the states joining it and the international organizations from the date of receipt by Depositary which the Integration Committee of EurAsEC, the document on accession to this agreement is.
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