An intergovernmental agreement to grant Belarus a loan of $760 million for 10 years was signed in Moscow on 24 July. Minsk expects the money to arrive in the coming days, the press service of the Ministry of Finance of Belarus reports.
“On July 24 in Moscow, the Ministry of Finance of Belarus and the Russian Federation signed an intergovernmental agreement to provide the Government of Belarus with state financial loan. The Agreement provides for the allocation of financial resources in Russian rubles in the amount of $760 million, term is 10 years, including a 4-year grace period,” informed the press service of the Finance Ministry of the Republic.
The Ministry noted that the loan funds would arrive at the national budget in the coming days, interfax.by reports.
Under the agreement, the loan is granted for maintenance and repayment of loans that had previously been issued to Belarus by Russia and the Eurasian Foundation of Stabilization and Development. The new loan repayment is scheduled for February 15, 2019. This loan will be repaid in equal semi-annual installments.
This is the second Russian loan to Belarus in recent months. This year, Russia has already provided $110 million to Belarus to pay interest on the Russian loan issued in 2010.
