Russia Refused Belarus in Loan

11.05.2011 14:35
Архив Редакция

Russia does not consider the possibility of allocating credit to Belarus from its budget. This was reported by Russian Deputy Prime Minister and Finance Minister Alexey Kudrin on May 11. According to the Russian minister, the question touches upon the credit from the crisis fund of the Eurasian Economic Community Fund (a $1billion loan).

At the same time, Alexey Kudrin added that the conditions for granting credit to Belarus can be determined by the visit of Russian Prime Minister Vladimir Putin in Minsk, scheduled for next week.

«The lending program of Belarus from the EEC crisis fund may include loans amounting to about $1 billion per year in 2011-2013,» RIA «Novosti» quoted the Russian Minister.

«We are considering the possibility of allocating $ billion loan (this year), but as the program is designed for three years, we are also considering such loans in 2012-2013,» Kudrin said, adding that they will also amount to $1billion.»

Kudrin Advises Belarus to Seek Money Elsewhere

Russia’s finance minister says that he considers expedient Belarus’s applying to the IMF or certain countries for loans as the money, which can be allocated by the EurAsEC, won’t be enough.

«In addition to credit support, Belarus should privatize a number of objects that may interest foreign investors, thus enabling Belarus to get about $2 billion from privatization,» said Alexey Kudrin.

At the same time, he recalled that two years ago, Belarus set a goal to become the country with the highest investment attractiveness. For this reason it proposed to privatize some state enterprises. «We only welcome it,» said Alexey Kudrin.

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