Belarus receives third tranche of EurAsEC Anticrisis Fund loan
MINSK, 15 June (BelTA) - Belarus has received $440 million as the third tranche of the loan provided by the Anticrisis Fund of the Eurasian Economic Community, the National Bank told BelTA.
“The third tranche of the EurAsEC Anticrisis Fund loan at the amount of $440-million have come to Belarus today and have been put to the country’s gold and foreign currency reserves,” the National Bank said.
On 4 June 2011 the Council of the EurAsEC Anticrisis Fund approved a $3 billion loan for Belarus in 2011-2013, together with a program of economic reforms. The Eurasian Development Bank transferred two tranches ($800 and $440 million) to Belarus last year. This year Belarus is to get two more tranches of $440 million each. One of them has arrived in the country today. The talks on the fourth tranche of the EurAsEC Anticrisis Fund loan continue.
The Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 to assist the development of market economies of the member states while facilitating their sustainable economic growth and the expansion of mutual trade and economic ties. The EDB authorized capital exceeds $1.5 billion. The participating states are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan.
As large as $8.513 billion the EurAsEC Anticrisis Fund was founded by the governments of the six countries on 9 June 2009. The Fund is meant to assist the member states in overcoming consequences of the global financial crisis, securing their economic and financial stability and supporting integration processes in the region. The member states have authorized the bank to manage money of the Anticrisis Fund.