EurAsEC First Tranche Remitted to Belarus

21.06.2011 13:31

Tuesday, June 21, the first tranche of the EurAsEC Crisis Fund loan of $800 million was transferred to Belarus. "Belarus fulfilled all formal commitments yesterday, and now the money is on the way, has already been sent," said Russian Finance Minister Alexey Kudrin.

As Telegraf previously reported, an agreement of a $3 billion loan from EurAsEC anti-crisis fund for Belarus was signed in June 2011. Belarus will receive the allocated money in installments within three years: $1.24 billion in 2011, about $800 million in 2012 and $1 billion in 2013.

President of Belarus Alexander Lukashenko stated that the funds would be used to create a «safety cushion» for the Belarusian economy.

According to RIA «Novosti»