Eurasian Integration Yearbook 2012

2011: Data and ReviewsThe agreement to extend a $3 billion loan to Belarus from the EurAsEC ACFresources foresees the allocation of several tranches over three years: $1.24billion in 2011; around $800 million in 2012; and $1 billion in 2013. The ACFfunding is expected to help Belarus overcome the foreign exchange crisis thathit the country in spring 2011, and the overall economic crisis triggered by anupsurge in prices and depreciation of currency.EDBExpert OnlineUkraine may join EDBAugust 19, 2011Ukraine may accede to the EDB Foundation Agreement. The Ukrainiangovernment approved the relevant presidential resolution at a meeting on August17. The government has authorised first Deputy Prime Minister and EconomicMinister Andrei Klyuev to address the EDB. Ukraine’s contribution to the EDBcharter capital may amount to around $15 million with Kyiv estimating theneed for EDB investment at $2.5 billion. Ukraine’s joining the bank will bringeconomic benefits to the country, help attract additional financial resources forinvestment projects and enhance cooperation with EDB member states.Note:the Eurasian Development Bank is an international financial organisation established by Russia and Kazakhstanin 2006 to promote the economic growth of its member states, the expansion of trade and economic tiesbetween its members and the development of integration in Eurasia. The Bank’s charter capital exceeds$1.5 billion and its member states are Russia, Kazakhstan, Armenia, Tajikistan and Belarus.Kyrgyzstan pays its contribution to EDB charter capitalKursiv.kzAugust 26, 2011Kyrgyzstan has paid its $100,000 contribution to the charter capital of the EDB,thus completing the procedures required for joining the EDB. It has becomethe sixth full member of the Bank along with Russia, Kazakhstan, Armenia,Tajikistan and Belarus.CSTOCSTO limits Western influence on post-soviet spaceDecember 21, 2011Kursiv.kzMoscow hosted the summits of two major post-soviet integration structures– the Collective Security Treaty Organisation and the CIS.248 EDB Eurasian Integration Yearbook 2012