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12 Mar 2021

Belarus’ healthcare minister on use of OPEC Fund's $20m loan

Belarus’ healthcare minister on use of OPEC Fund's $20m loan
Photo Reuters

MOLODECHNO, 12 March (BelTA) – Belarus’ Healthcare Minister Dmitry Pinevich spoke about the terms and the purpose of a $20 million loan from the OPEC International Development Fund, BelTA has learned.

According to the minister, the interest rate and the repayment terms of the loan are quite favorable. “The loan is not tied. It can be used to finance budget expenditures on COVID-19. The loan has not been granted for a specific purpose such as purchase of medicines, equipment or salary projects,” Dmitry Pinevich explained. “We and the Finance Ministry are looking into the expenses that we have incurred. These budget expenses will be financed from credit resources, which will enable us to use the budget resources as we planned to improve the infrastructure of the healthcare system," the minister added.

The minister noted that this is not the first borrowing of this kind. The Healthcare Ministry is also working with the World Bank on this matter. But unlike the OPEC Fund it extends loans for specific purposes such as purchase of medicines, equipment, awareness raising.

As it has been reported, on 11 March President Aleksandr Lukashenko signed Decree No.89 to approve a loan agreement between Belarus and the OPEC International Development Fund (the public health emergency care program) signed on 24 December 2020.

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