The Russian loan as large as the equivalent of $1.55 billion has been transferred to the account of the Belarusian Finance Ministry, representatives of the Ministry told BelTA.

According to the source, on 29 September the Finance Ministry received an equivalent of $1.55 billion as a financial loan from the Russian Federation in line with the agreement on providing a state financial loan to Belarus that the Belarusian government and the Russian government signed on 24 September.

BelTA reported earlier that the agreement envisages the allocation of financial resources in Russian rubles to the equivalent of $1.55 billion for 15 years, including a five-year grace period.

The loan is meant to repay and service the state debt and replenish the gold and foreign currency reserves of Belarus. The loan is granted provided Belarus pays the interest and the principal on previously granted state loans as well as loans granted by the Anticrisis Fund of the Eurasian Economic Community.

Taking into account the state financial loan of $450 million that Belarus received from Russia on 9 July 2014 the volume of credit support Belarus enjoys (on an untied basis and from the government of the Russian Federation) will be $2 billion this year.


 

BelTA