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EAEU defines sources and mechanisms of financial support for industrial cooperation
Thanks to this instrument, the most promising multilateral projects in the EAEU will receive financial support through subsidizing the rate on loans issued by international and national financial organizations of the Union.
In terms of the documents adopted, for further arrangement of work, Member States confirmed the need to develop uniform rules and priorities for financing cooperation projects.
According to the plans for further work in this direction, the issues of new powers of the EEC, development and adoption of a funding procedure, approval of common criteria and industries for the implementation of cooperation projects, a detailed financing mechanism and a number of other issues will be considered during 2023."The Heads of Governments of the Eurasian Economic Union countries supported the need to endow the Commission with new powers to organize activities at the supranational level to work with projects and provide financial support. However, the key priorities for us will be: the participation of three or more parties in the project, the formation of added value in the cooperation chain, financial efficiency and sustainability, and growth of mutual trade and investment," emphasized Artak Kamalyan, the EEC Minister in charge of Industry and Agro-Industrial Complex.
"This will help us to move to a new level of integration in the real sector of the economy," the EEC Minister concluded.
