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21 July 2021, 18:06

Eurasian Economic Union working on new financial tools to promote cooperation

MOSCOW, 21 July (BelTA) – The Eurasian Economic Commission is working on new measures and tools to finance cooperation in the Eurasian Economic Union, Aide to the Chairman of the Board of the Eurasian Economic Commission (EEC) Iya Malkina told a press briefing on 21 July, BelTA has learned.

“Insufficient access to financial resources is one of the obstacles that stand in the way of industry support and joint projects,” Iya Malkina said. “Therefore, the Eurasian Economic Commission is working on new measures and tools to finance cooperation, while actively involving the Eurasian Development Bank (EDB) and the development institutions of the EAEU countries."

For example, plans are in place to develop new mechanisms for preferential financing of integration projects, including on the basis of subsidizing the EDB rate. “The EEC Council is planning to discuss this issue with the deputy prime ministers of our countries at a meeting in September with a view to working out acceptable project support options,” Iya Malkina added.

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