On 9 July the state budget of Belarus received $450 million of the state loan granted by Russia, representatives of the Belarusian Finance Ministry told BelTA. The state financial loan to the tune of $450 million was transferred in line with the agreement that the governments of Belarus and Russia signed on 31 January 2014 to provide the Belarusian government with the state financial loan. As a condition for getting the $450 million state financial loan Belarus had to pay interest rates and the principal debt on Russia's previous state loans as well as loans granted by the EurAsEC Anticrisis Fund. The Belarusian side will have to pay out the used loan by transferring U.S. dollars to the Russian side in 14 semiannual equal shares on 15 January and 15 July every year, with the first transaction scheduled for 15 January 2017. The Belarusian side will pay an interest rate of 4% per annum. The interest rate will be calculated as of the date the Belarusian side starts using the loan and will be paid in U.S. dollars on 15 January and 15 July every year. The last payment of the interest rate will be simultaneous with the last payment on the principal debt. The Belarusian side has the right to pay out any sum of the loan at its face value without additional charges ahead of schedule. In June 2014 Belarus received a bridge loan to the tune of $2 billion from Russian VTB Bank.
Written by belta.by
