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Russia Is Going To Grant a Loan to Belarus
August 25, 2017 17:15


 The Russian government has approved a draft agreement on granting a ten-year state loan to Belarus in the amount of $ 700 million. The money will be used to refinance Minsk's obligations to Moscow on the previously received loan. The decree signed by Prime Minister Dmitry Medvedev is posted on the official portal of legal information.

The document says that the loan will be provided in 2017. Since 2018, it has to be repaid in two tranches: in April and October. The size of tranches is gradually increasing: from 2.5 percent of the loan amount during the first few years to 9.5 percent in April and October 2027.

On June 30 First Deputy Finance Minister of Belarus, Maxim Yermolovich, said that the country expects to receive money soon. "In July-August we expect actual receipt of these funds," the official said. In April, Belarussian President Alexander Lukashenko said that the Republic "never kneeled before anyone" and regularly serves its debts.


Author: Anna Dorozhkina


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