Russia will provide Belarus with a state loan of up to $600 million to refinance the loans given by the Russian Federation earlier, as First Vice Prime Minister, Finance Minister of Russia Anton Siluanov said, Interfax reported.
“In compliance with the decision of the Russian President, Russia will give Belarus a state loan in an amount up to $600 million. This money will be spent for refinancing of the payments for repayment of main debt left after Russia’s previous loans,” he stated.
Siluanov also noted that Belarus completed the implementation of the measures required for the provision of the 7th tranche from the Eurasian Fund of Stability and Development in an amount of $200 million.
“This enables the fund’s council to make a positive decision concerning allocations. Therefore, the Belarusian side might receive the 7th tranche for stabilizing the budget till the end of this month,” the Minister added.
In late February it was reported that Belarus asked Russia for credit ($600 million) to refinance the debt.
“We want to loan up, we do not get this money, we return it to Russia right away,” President of Belarus Alexander Lukashenko explained.