ArmInfo. The Eurasian Economic Commission (EEC), together with the relevant ministries of the EAEU countries, is developing a mechanism for financial assistance to industrial cooperation. This was announced by Minister for Industry and Agro-Industrial Complex of the EEC Artak Kamalyan at a meeting of the Council on Industrial Policy of the EAEU, held within the framework of the "INNOPROM" international exhibition in Yekaterinburg.
He noted that after the ratification of the amendments to the Treaty on the EAEU, signed by the presidents of the countries at the Supreme Eurasian Economic Council in May this year, the EEC received new powers to finance multilateral projects in industry from the budget of the Union.
"To launch the mechanism, a Regulation on the procedure for selecting cooperation projects and providing financial assistance in their implementation is being developed," the Member of the Board said.
Kamalyan noted that the document defines the criteria and requirements for projects, borrowers, financial institutions, as well as the procedure for the operation of the subsidizing mechanism, including the responsibility of all participants in the process and control over the targeted use of funds. In this regard, he said that this autumn, this Regulation is expected to be signed at the level of prime ministers of the EAEU countries.
According to the EEC, since 2019, industrial production in the Union has grown by 7%. The volume of cooperative supplies between the Member States increased by more than 1.5 times.
