Russia’s $1bn loan to Belarus to be paid in installments

The government of the Russian Federation approved a draft agreement to provide Belarus with a $1 billion loan in 2020-2021, which is stated in the order signed by Russian Prime Minister Mikhail Mishustin, news agency TASS reported on Monday.

“Russia’s Finance Ministry and Foreign Ministry have been instructed to hold talks with the Belarusian side and, upon reaching an accord on the issue, sign the agreement on behalf of the Russian government. They are allowed to make amendments of not critical character to it,” the document published on the national legal portal reads.

The draft agreement had been previously discussed and endorsed by representatives of the Belarusian government. In accordance with it, Belarus is expected to receive a $1 bn state financial loan in several installments.

In the wake of his meeting with Alyaksandr Lukashenka in mid September, Vladimir Putin stated that Russia would extend a loan of $ 1.5 bn to Belarus ‘in this challenging situation’.

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