Belarus expects to get loan tranche from Eurasian fund in Oct

MOSCOW, Oct 5 (PRIME) -- Belarus expects to get a U.S. $500 million tranche of a $1.5 billion Russian loan through the Eurasian Fund for Stabilization and Development until the end of October, Belarusian Finance Minister Yury Seliverstov said in an interview to Belarus 1 television channel broadcast on October 4.

Previously, Russian Finance Minister Anton Siluanov said that Moscow and Minsk were working on provision of the loan in three stages  with one $500 million tranche coming from Moscow and one from the fund until the end of the year. Russia will provide the remaining $500 million in 2021.

“The concept is that there should be three tranches. One of them, say, the Eurasian Fund for Stabilization and Development, we are working with them. It is the first part, and I think that we will get it in the foreseeable future … like in October, we should form that until the end of October,” Seliverstov said.

“Regarding the intergovernmental loan from the Russian government, we should receive part of it this year and part of it next year. In general, this … is an acceptable schedule for us.”

Belarus has to redeem debts, including debts to Russia, in 2021, while it is not guaranteed that the pandemic will stop and the economy would expand next year, so the country would need money for development, and Russia’s support would ensure the country’s stability, he said.

End %%md/jst%%