Belarus to get $3bn from EurAsEC Anticrisis Fund
KIEV. June 6. KAZINFORM Belarus will receive a $3 billion loan from the EurAsEC Anticrisis Fund. The corresponding decision was taken in a session of the EurAsEC Anticrisis Fund Council in Kyiv on 4 June; Kazinform refers to BelTA.
The loan will be provided within three years. It will be given for 10 years with a 3-year period of grace.
In 2011 Belarus will get $1.24 billion, with the first tranche of $800 million to be received with the next 10-15 days. The second tranche of $440 million will be allocated by the end of the year once the Belarus Government presents indicators of financial stability.
The crediting rate will be floating; it will be defined taking into account the external borrowings of the Russian Federation and Kazakhstan and these countries' ratings. According to Finance Minister of Russia Aleksei Kudrin, the present rate of about 4% is quite low today.