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Belarus expects Russia to draft $600m credit agreement

MINSK, 16 May (BelTA) – Belarus expects Russia to send a draft credit agreement to the tune of $600 million. Belarus requested the loan from Russia for the sake of refinancing the debt in early 2019, BelTA learned from Deputy Finance Minister Andrei Belkovets on 16 May.

The official noted that the Russian side had not gone back on the previously reached agreement. “We expect our colleagues to get back to us with the draft of the credit agreement. We know that the money is part of this year’s Russian budget. Getting it is the problem,” the deputy finance minister said.

“It is more of a matter of asking the Russian side when they will be able to send a draft credit agreement for further discussion,” he added.

The official also commented on Belarus’ plans to borrow roughly the same amount of money from the China Development Bank in 2019. In his words, it is an alternative the sides are discussing now. If the sides come to terms, Belarus may spend the money on refinancing the debt, Andrei Belkovets explained.

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