Russia will help Belarus to repay debt to Russia

Russia will help Belarus to repay debt to Russia

The Russian government has approved a draft agreement on granting a ten-year state loan to Belarus the amount of $ 700 million. The money will be used to refinance the obligations of Minsk to Moscow on the previously received loan.

The decree was signed by Prime Minister Dmitry Medvedev posted on the website of official publication of normative acts.

The document says that the loan will provide in 2017. Starting from 2018 it must be repaid in two tranches in April and October. Size of trenches is gradually increasing from 2.5 percent of the loan size in the first few years to 9.5 percent in April and October 2027.

30 June, first Deputy Finance Minister of Belarus Maxim Ermolovich said that the country looked forward to the imminent receipt of money. “In July-August expected actual receipt of these funds”, — said the official.

In April, President of Belarus Alexander Lukashenko said that the Republic “to anyone was never on my knees” and regularly service their debts.