Belarus and EurAsEs Signed Loan Agreement

09.06.2011 15:30
Архив Редакция

June 9, Finance Minister Andrei Kharkovets and Vice Chairman — Managing Director for the activities of the Crisis Fund of the Eurasian Economic Community Sergei Shatalov signed in Minsk an agreement between Belarus and the Eurasian Development Bank to grant a financial credit from the Crisis Fund Community to the republic. The loan amounts to $3 billion in total.

Earlier, Russian Ambassador to Belarus Alexander Surikov reported on June 9 that one of the prerequisites for the EurAsEs $1 billion loan to Belarus was to reduce emissions. «Terms of the loan have all been voiced. They are reduction of the Belarusian budget deficit, as well as reduction of the mad emissive filling with money,» the ambassador said.

«The money supply has already been tightened. The President has already announced government programs’ cuts. These are absolutely reasonable things associated with protection of the population,» the diplomat noted.

In addition, Alexander Surikov said that Russia «hadn’t laid down any conditions to Belarus of enter a single Russian ruble.» «A single Belarusian ruble rate — this issue was on the table,» summed up the Russian ambassador.

Belarus to Receive First Loan Tranche in June, EurAsEs

Meanwhile, deputy chairman of the Eurasian Development Bank — Managing Director for the activities of the Crisis Fund of the Eurasian Economic Community Sergei Shatalov said that the first tranche of EurAsEs loan was a matter of days or weeks.

«The agreement provides for the flow of funds into the republic in six installments over the 2011-2013 period. The first tranche in the amount of $800 million will be available for the Ministry of Finance in the National Bank in mid-June this year,» added at the Finance Ministry of Belarus.

The loan will support the Government and the National Bank’s program of measures of economic policy for the medium term, the Finance Ministry said in a statement.

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