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Belarus receives 300 mln USD loan from EFSD

Xinhua, April 26, 2017 Adjust font size:

Belarus has received a financial loan of 300 million U.S. dollars from the Eurasian Fund for Stabilization and Development (EFSD), the Belarusian Finance Ministry said on Wednesday in a statement.

The statement said Belarus has fulfilled the conditions for obtaining the third tranche of the Eurasian Fund for Stabilization and Development financial loan, which was signed in Moscow on March 25, 2016.

In March 2016, Belarus signed the agreement for receiving 2 billion U.S. dollars loan from the EFSD. The loan must be granted in seven tranches during the 2016-2018 period. The Belarusian authorities must implement a set of economic development measures in order to receive the tranches.

According to the credit program, Belarus could get the third tranche of the loan if the strategy on reforming the sector of state enterprises is approved, and the government will take a decision on social protection of vulnerable segments of the population and increase subsidies for the unemployed.

Belarus received the first tranche of 500 million U.S. dollars from the EFSD in March 2016, and the second - 300 million U.S. dollars - in July 2016. Endit