MANAGEMENT AGREEMENT MEANS OF ANTI-RECESSIONARY FUND OF EURASIAN ECONOMIC COMMUNITY

of June 9, 2009

The Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, the Republic of Tajikistan and the Republic of Armenia which are the founder states of Anti-recessionary fund of Eurasian economic community (further - Fund), based on the Constitutive treaty of Anti-recessionary fund of Eurasian economic community of June 9, 2009 (further - the Constitutive treaty of Fund) on the one hand, and

Eurasian Development Bank which is the international organization created according to the Agreement on organization of Eurasian Development Bank of January 12, 2006 for the purpose of assistance to formation and development of market economy of the State Parties of Bank, to their economic growth and expansion of trade and economic relations between them (further - Bank), on the other hand

hereinafter referred to as by the Parties,

in view of that:

The constitutive treaty of Fund provides that control of fund is exercised of Council of Fund together with the managing director of fund according to the procedure, the provided Regulations on Fonda which are integral part of the Constitutive treaty of Fund (daleepolozheniye about Fund), and accomplishment of functions of the managing director of fund is assigned to Bank based on the Management agreement fund signed between the founder states of Fund and Bank;

according to item 4 of article 9 of the Charter of Bank, Bank of the Council of the bank having the right according to the decision to assume liabilities on management of the special funds created by members of Bank, group of participants or other organizations for the solution of the tasks answering the purpose and functions of Bank;

The council of the bank makes the decision on adoption of obligations by Bank on management of fund (the minutes of Council of the bank of June 9, 2009 No. 22),

agreed as follows:

Article 1 Subject of the agreement

1. This agreement of the Party establish procedure for joint management of fund.

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