Russia increases financial aid to emerging countries in 2009
RosBusinessConsulting
Russia increased its support for emerging countries from $220m in 2008 to a whopping $800m in 2009, Deputy Prime Minister and Finance Minister Alexei Kudrin announced at a press conference today. He indicated that during the crisis, Russia was able to create a new mechanism for emerging countries' support as part of the Eurasian Economic Community (EurAsEC) by forming an anti-crisis fund within the organization in the amount of $10bn. Russia, as a member of EurAsEC, contributed $7.5bn. "Some of this money is being transferred to support low-income countries," Lavrov stated.