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Russia to provide $700 mln loan to Belarus

The country’s First Finance Minister Maksim Yermolovich said earlier that Minsk planned to obtain a $700 mln loan from Russia in July-August

© Sergei Konkov/TASS

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Belarusian president says Moscow will remain Minsk’s strategic ally

MOSCOW, July 18. /TASS/. Russia to provide an intergovernmental loan worth $700 mln to Belarus, Russia’s Deputy Finance Minister Sergei Storchak told TASS.

"This is a technical matter. All political decisions have been made, and now we are getting paperwork done for $700 mln (loan) as agreed and announced," he said, adding that all documents related to credit arrangement will be signed after the government’s decree is issued.

In April, Presidents of Russia and Belarus, Vladimir Putin and Alexander Lukashenko, reached an agreement on refinancing Minsk’s debt obligations. Moscow planned to extend a loan worth up to $800 mln for restructuring of Belarusian debts.

The country’s First Finance Minister Maksim Yermolovich said earlier that Minsk planned to obtain a $700 mln loan from Russia in July-August.

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