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Opinions & Interviews

30 Apr 2020

Belarus plans to attract AIIB funds to support banking system

Belarus plans to attract AIIB funds to support banking system
Dmitry Krutoi. An archive photo

MINSK, 30 April (BelTA) – Belarus plans to attract funds from the Asian Infrastructure Investment Bank (AIIB) to support its banking system, Belarus’ First Deputy Prime Minister Dmitry Krutoi told the media on 30 April, BelTA has learned.

“A video conference was held with the Asian Infrastructure Investment Bank. We discussed the issue of supporting our banking system. So far, we have agreed to work out the allocation of $250 million (first tranche) for Belarusbank and $100 million for the Development Bank to support companies from the most affected sectors,” said Dmitry Krutoi.

According to him, negotiations with the IMF are well underway. “They have sent us their request proposals on the parameters of social and economic development, budget and public debt service. We are currently filling out these tables. In fact, there are technical consultations between experts. At present we are working out the parameters of obligations that will be included in the letter of intent,” the first deputy prime minister said.
“When decree No.143 to support the economy was signed, we promptly sent it to all our colleagues from international financial organizations. They began to better understand the measures taken by the government and the National Bank, so I think that the process now will accelerate,” added Dmitry Krutoi.

As BelTA reported earlier, Belarus is currently in talks with international organizations, the World Bank, the IMF, the Development Bank of China, the European Investment Bank, governments of certain countries with a view to get financial support to recover from the coronavirus epidemic. Belarus expects to get assistance from outside lenders to the total tune of $2-2.5 billion to mitigate the impact of the novel coronavirus.

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