ArmInfo. Financing of joint industrial projects of the EAEU countries is planned to be launched from the beginning of 2024. Minister of Economy of Armenia Vahan Kerobyan told TASS on the sidelines of the INNOPROM-2023 exhibition.
<The main result at the moment is an agreement on financing the cooperation programs of the EAEU. Yesterday morning there was a session on the industrial policy of the EAEU, at this meeting we decided how we would act to finance industrial projects. I think this is a key decision for the EAEU countries>, he said.
At the same time, the minister expressed confidence that by the end of this year all the necessary documents would be developed so that companies could receive concessional financing for their projects in the EAEU countries from the beginning of next year.
In December 2022, the EAEU adopted a new format for financing industrial cooperation projects, which provides for subsidizing interest rates on loans and credits issued for the implementation of the latter from the budget of the Union. The mechanism is planned for five years with the prospects of extension.
According to preliminary calculations, a fund in the amount of about 20 million US dollars per year will be formed. This will make it possible to annually support projects worth about 16-17 billion Russian rubles.
