EAEU Integration Allows Members to Avoid Global Economic Risks - Putin

Integration within the EAEU has proven its benefit for all member states and allowed them to neutralize global economic risks, Russian President Vladimir Putin said Friday.

BISHKEK (Sputnik) — Integration within the Eurasian Economic Union (EAEU) has worked as a safety cushion for its member states and allowed them to neutralize global economic risks, Russian President Vladimir Putin said Friday.

"Our integration institutions worked as a safety cushion, to some extent neutralizing the impact of unfavorable external conditions, while national economies were able to adapt to new realities," Putin said at the opening of an EAEU Supreme Eurasian Economic Council.

Moreover, Russia will extend a $110 million loan to Kyrgyzstan through the Eurasian Economic Union's (EAEU) development channels, Russian President Vladimir Putin said Friday.

Putin praised the Eurasian Development Bank and the Eurasian Fund for Stabilization and Development that it manages for "playing an important role in resolving pressing issues of economic growth and ensure our countries' financial stability."

"The latest example of this cooperation is the recently signed agreement on the extension to the Kyrgyz Republic of a $110 loan to finance specific infrastructure projects in the country," Putin said.

The Eurasian Development Bank has earmarked a total of $4 billion on major investment projects, Putin said opening the EAEU's Supreme Eurasian Economic Council.