European Bank for Reconstruction and Development (EBRD). As we know, the IMF provides credit stabilization globally, while the EBRD grants loans for investment projects. Russia has refused to increase the amount of its contribution to the IMF, which would have been used to grant loans to stabilize countries in need around the world. Instead, it creates a regional fund to help its neighbors and allies. " Belarusian President, Alexander Lukashenko said: "The Eurasian Economic Community will establish a fund of $10 billion to deal with the financial crisis." On June 9, 2009, the Fund was established at a meeting of the EurAsEc. The Russia and Kazakhstan contributed 7.5 billion and 1 billion dollars respectively to the anti-crisis fund. History Origins of the Eurasian Economic Community On October 10, 2000, when reforms on the CIS were reached the Eurasian Economic Community was formed. The EurAsEC aimed to erase the failures of the CIS, to form a true common market, face the challenges of globalization and to resume the integration processes within the CIS. Very quickly, the EurAsEC emerged as the economic complement of the CSTO. The dissolution of the CEC into the EurAsEC In 2004, Russia joined the Central Asian Economic Community (ECSC) in order to strengthen its presence in Central Asia. Soon after, Moscow expressed its desire to dissolve the ECSC in the EurAsEC . In late 2005, Uzbekistan argued for its accession to the EurAsEC, which led other members of the ECSC to negotiate and eventually merge the two organizations. This merge was effective on January 25, 2006. Most of the functions of the Central Asian Economic Community were transferred to the EurAsEC since 2006. However the status of current observers of the ECSC that are not observers of EurAsEC is not yet settled (including Georgia and Turkey, the latter activist which is also for accession to the European Union) . Members wanted the EurAsEC to become a viable economic bloc between the powerful EU in the West, and the growing economies in the east, which established the ASEAN). Uzbekistan's withdrawal from the EurAsEC On October 16, 2008, Uzbekistan submitted an official note to the EurAsEC Secretariat, requesting to withdraw from the Eurasian Economic Community (EurAsEC). Although Uzbekistan has not given any official reason, many interpret the move as an attempt to revive stagnating relations with the West and to assertively dismissing Russian influence. Other views interpret Uzbekistan's move