Business news

MINSK, 12 October (BelTA) – The Eurasian Development Bank (EDB) that manages the funds of the Eurasian Fund for Stabilization and Development (EFSD) has transferred the sixth tranche of the $200m loan to Belarus, BelTA learned from the website of the bank.

Taking into account the previous tranches, Belarus received $1.8 billion out of the $2 billion loan to support domestic reforms.

The Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and expansion of mutual trade and other economic ties in its member states. The EDB's charter capital totals $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.

The Eurasian Fund for Stabilization and Development was instituted on 9 June 2009 to help the participating states overcome the aftermath of the global financial crisis and restore economic and financial stability, and to support integration processes in the region.