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Belarus to get USD440m loan from EurAsEC Anticrisis Fund  Join our daily free Newsletter

MENAFN - 27/12/2012

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(MENAFN) The Belarusian National Bank's director, Nadezhda Yermakova, stated that soon, the country will receive a USD440 million loan from the EurAsEC Anticrisis Fund, reported RIA.

Yermakova said that the fourth tranche of a bailout loan was approved by EurAsEC, which is a regional economic grouping of ex-Soviet republics led by Russia, earlier this month.

EurAsEC's program for Belarus was founded to repair the country's severe economic imbalances, low gold and foreign exchange reserves and high inflation.

In June of last year, the country inked a USD3-billion loan deal with the Eurasian Bank for Development, which manages the EurAsEC Anticrisis Fund resources, under which the country will receive the amount over 6 tranches.

Yermakova noted that the Anticrisis Fund of the EurAsEC will make its decision on the fifth and sixth tranches following an assessment that would be made on how the post-Soviet republic realizes its credit commitments.

According to Russia's Finance Minister, Anton Siluanov, the fifth tranche would be attached to the execution of a state privatization program in Belarus.

 






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