Business news

ALMATY, 6 September (BelTA) - Belarus will receive the sixth tranche of the loan from the Eurasian Fund for Stabilization and Development (EFSD) within a month, Deputy Chairman of the Eurasian Development Bank (EDB) Andrei Krainy told BelTA in Almaty on 6 September.

"This is a very technical issue. We are currently processing the documents. I think that within a month, the money will be definitely released," Andrei Krainy said speaking about the time when Belarus will receive the sixth tranche of $200 million.

“As for the seventh tranche, the terms will be clarified. There are a list of procedures that need to be performed”, he explained.

Andrei Krainy emphasized that both the EFSD and the EDB want to continue cooperation with Belarus. "Belarus is a very actively borrower. It takes the third place following Kazakhstan and Russia. We are satisfied with this cooperation. The projects are good. Belarus often gives sovereign guarantees for loans," Andrei Krainy said.

A $100 million project to finance the production of components at the Minsk Tractor Works (MTZ trademark) is currently under consideration.

As it was reported earlier, Belarus applied for a new $3 billion loan to the EurAsEC Anti-Crisis Fund (now called the Eurasian Stabilization and Development Fund – EFSD) in H1 2015. Subsequently, the initially announced $3 billion loan was decreased to $2 billion. The funds are provided by seven tranches.