Russia approves $760 mln loan to Belarus

The Russian government approved an agreement to provide Belarus with a $760 million tranche from the previously agreed loan program, state-run news agency BelTA reports.

The funds will be used to pay and service Belarus’ debts to Russia and the Eurasian Fund for Stabilization and Development (EFSD). The loan will be repaid by 13 equal semi-annual installments on 15 February and 15 August every year, with the first payment due on 15 February 2019.

This year Russia has already has granted Belarus $110 million to repay the interest on the Russian loan issued in 2010.

Recently Russian Finance Minister Anton Siluanov told reporters in Moscow that Belarus asked Russia for a $3 billion loan.

Read also: ‘We are not spongers’: Russia may render extra financial aid to Belarus – Finance Minister

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