Events

MINSK, 15 September (BelTA) – A state financial loan of Russia has been transferred to the account of the Belarusian Finance Ministry, BelTA learned from the ministry’s press service.

Russia extended the state financial loan of $700 million in equivalent as part of the agreements reached at the level of the presidents of Russia and Belarus in April this year and the contract signed by the governments of the two countries on 30 August. The funds were credited in full to the account of the Belarusian Finance Ministry on 15 September.

Under the agreement, the loan shall be given for a period of 10 years. The funds shall be made available in Russian rubles and shall be used to refinance the previous loan extended to Belarus by the Russian Federation. The loan shall be repaid in two annual tranches (starting 2018) - in April and October.