At the Eurasian Intergovernmental Council's meeting on December 13, Heads of Government of the Eurasian Economic Union discussed the implementation of the mechanism for providing financial support to joint cooperation projects in industry.

It was noted that in June 2024 the Protocol on Amending the Treaty on the EAEU in terms of financial support to cooperative projects came into force. The Eurasian Economic Commission was authorized to provide such support.

Project applications are submitted to the Commission by authorized national banks and the Eurasian Development Bank. They also liaison with businesses in implementing the proposals.

The Commission is now considering three cooperative projects. They involve Belarus, Kazakhstan and Russia. Projects cover such sectors as chemicals, agricultural and railroad engineering. It is planned that the Union bodies will have reviewed the first applications received by the EEC according to the established procedure by the end of this year.

The half-year work practice of the Commission to implement the new mechanism revealed the need to adjust a number of norms of the Regulation on Selecting Joint Cooperation Projects in Industry. Some proposals to improve the document came from business representatives.

Prime Ministers of the EAEU countries approved the inclusion of the Russian-Kyrgyz Fund in the list of organizations that can participate in subsidizing cooperation projects.