Belarus receives $300m as second tranche of EFSD loan
The website reads: "Belarus has fulfilled the conditions for getting the second tranche of the Eurasian Fund for Stabilization and Development financial loan that was signed in Moscow on 25 March 2016. As much as $300 million was transferred to the national budget on 29 July."
On 25 March 2016 the Belarusian Finance Ministry and the Eurasian Development Bank (EDB) signed an agreement on providing a $2 billion loan out of money of the Eurasian Fund for Stabilization and Development (EFSD). The agreement provides for allocating $2 billion to support economic policy measures and structural changes of the Belarus government and the central bank in 2016-2018. The economic policy measures and structural changes were approved by the Council of the Eurasian Fund for Stabilization and Development.
The loan is supposed to be granted to Belarus in seven tranches in 2016-2018. Two tranches have been transferred already. One more tranche will be transferred in 2016, another three in 2017, and another one in 2018.
BelTA reported earlier that in H1 2015 Belarus contacted the EurAsEC Anticrisis Fund (which is now known as the Eurasian Fund for Stabilization and Development) with a request for a new loan as large as $3 billion. In the course of negotiations the initially specified sum of $3 billion dropped to $2 billion, Kazinform has learnt from BelTA.
