Today RF President Dmitry Medvedev has signed the law on ratification of the Agreement on the EurAsEc anti-crisis fund and the Agreement on managing the funds of the EurAsEc anti-crisis fund. The relevant bill was adopted by the RF State Duma on July 15 and approved by the Council of Federation.

According to the agreement signed on June 9, Russia, Belarus, Kazakhstan, Kyrgyzstan, Tajikistan and Armenia established a $10 billion fund to extend further credits and stabilization loans to one another. RF Minister of Finance Alexey Kudrin was appointed Fund Chairman.
Russia's initial contribution is US $7.5 billion — the RF Parliament has amended the state budget. Kazakhstan's share is US $1bln. Kyrgyzstan, Tajikistan and Armenia contributed US $1mln each, and Belarus US $10mln.
The fund is most likely to start operating this summer, which will enable Russia to begin assisting its allies earlier. The assistance will first of all be rendered to Belarus and Kyrgyzstan in the form of tranches.

A total of US $500mln will be allocated to Belarus. Tajikistan has applied for a loan, and Armenia is likely to do as well.