MINSK, 14 June (BelTA) – The Eurasian Fund for Stabilization and Development (EFSD) is expected to extend the fourth tranche of the loan to Belarus without delay, Belarusian First Deputy Finance Minister Maksim Yermolovich said following the extended session of the permanent commission on budget and finance at the House of Representatives, BelTA has learned.
“From my point of view, the negotiations with the EFSD were quite successful. The Eurasian Development Bank is busy reviewing the fulfillment of the fourth tranche conditions. We keep in touch with our EFSD's colleagues. We are working out some documents to extend all our agreements. I believe that the fourth tranche of the loan will be disbursed without delay,” Maksim Yermolovich added.
He clarified that the disbursement of another tranche is a somewhat bureaucratic process. “The EFSD Council of Experts should hear out the EBD's conclusions and then submit this matter to the EFSD Council,” Maksim Yermolovich remarked and added that this process is going to take some time. This is why he said he cannot tell the exact date when the tranche will be extended to Belarus. “I see no obstacles to receiving this tranche. The EFSD Council of Experts and the EFSD Council should gather to approve this decision. This can take from two to four weeks depending on their efficiency. But, again, there are no obstacles to receiving the fourth tranche,” Maksim Yermolovich summarized.
BelTA reported earlier that as much as $300 million had been transferred to Belarus as the third tranche of the EFSD's loan in late April 2017.
On 25 March 2016 the Belarusian Finance Ministry and the EDB signed an agreement on providing a $2 billion loan out of money of the EFSD. The agreement provides for allocating $2 billion to support economic policy measures and structural changes of the Belarusian government and the central bank in 2016-2018 approved by the EFSD Council.
The loan is supposed to be granted to Belarus in seven tranches in 2016-2018.
