Eurasian Development Bank, Resources Manager for the Eurasian Fund for Stabilisation and Development (EFSD), has transferred the fourth $300 mln tranche of the EFSD financial credit to Belarus.
Of the total of the US $2 bn credit committed to support a Reform Programme of the Republic of Belarus for 2016–2017, the amount disbursed to the country by now is US $1.4 billion (with the previous tranches included).
The decision to disburse the tranche was adopted by the Fund’s Council on 26 June 2017 and substantiated by the fact that all the Programme conditions had been met, except for one control indicator, for which a waiver was granted, and several indicators were added to the Programme to be met in the framework of the sixth and seventh tranches.
The indicator that has not been met sets the ceiling for non-project related government borrowing at 75% of the public debt repayment needs. In 2016, the actual mobilisation of funds was 101.4% of repayments.
“The waiver is granted for this indicator as the country’s authorities have achieved notable progress in macroeconomic stabilisation through implementation of balanced economic policies,” the press service says.
Representatives of the Belarusian Finance Ministry and the Eurasian Development Bank signed the agreement on providing a financial loan out of money of the Eurasian Fund for Stabilization and Development (EFSD) in Moscow on 25 March, 2016. The loan is being provided in seven tranches over the period of 2016-2018.
belsat.eu, following Eurasian Development Bank
