EDB examines Belarus' readiness for fourth tranche of EurAsEC loan

The meetings were focused on assessing the fulfillment of the conditions for Belarus to get the fourth tranche of the financial loan from the EurAsEC Anticrisis Fund, the press service of the Eurasian Development Bank (EDB) told BelTA.

After getting the final report of the Belarus government regarding the fulfillment of the conditions to get the fourth tranche the Eurasian Development Bank will continue assessing the process, including via consultations with interested agencies in Belarus. The Eurasian Development Bank report on assessing the conditions will be looked into by the Anticrisis Fund Expert Council. After that it will be discussed at a regular session of the Anticrisis Fund Council, BelTA has been told, BelTA reports.

On 4 June 2011 the EurAsEC Anticrisis Fund Council authorized the allocation of a $3 billion financial loan to Belarus. So far the EBD has transferred three tranches to Belarus: $800 million in June 2011, $440 million in December 2011, and $440 million in June 2012. The Belarusian side expects to get the fourth tranche of $440 million by the end of the year.

The Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with a view to assisting the development of market economies of the participating states while facilitating their sustainable economic growth and expanding their mutual trade and economic ties. The EDB's authorized capital exceeds $1.5 billion. The participating states are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan.

As large as $8.513 billion the EurAsEC Anticrisis Fund was founded by the governments of the six countries on 9 June 2009. The Fund is meant to assist the member states in overcoming consequences of the global financial crisis, securing their economic and financial stability and supporting integration processes in the region. The member states have authorized the bank to manage money of the Anticrisis Fund.

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