Sep 16, 2020
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The Ministry of Finance disclosed the details of the loan to Belarus

Russian Finance Minister Anton Siluanov told how Russia will give Belarus a loan of $ 1.5 billion, RIA Novosti writes.

According to him, the provision of funds will be carried out in two stages. In 2020, the republic can receive $ 500 million from Russia and the same amount through the Eurasian Fund for Stabilization and Development (EFSD). Russia will provide the remaining amount to the neighboring country in 2021.

Siluanov recalled that legislative amendments are needed to issue an interstate loan to the Russian Federation. Therefore, work on the loan will begin when the relevant amendments are adopted. The head of the Ministry of Finance also added that on average, such loans are provided for ten years.

“We will be guided by these terms when preparing conditions,” the minister explained.

We also add that on Wednesday, President of Belarus Alexander Lukashenko told reporters that the decision on the request to the Russian Federation for a loan was made "at his insistence."

“This is not a new loan. It was my request to the Russian leadership that we do not pay this billion this year, we keep it and postpone it to the next year, ”Sputnik Belarus quotes the politician as saying.

The fact that Russia will provide a state loan to Belarus became known after a recent meeting between Vladimir Putin and Alexander Lukashenko. The Kremlin had previously explained what the loan would be used for.

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