MINSK, 23 August (BelTA) - Belarus can qualify for the third tranche of the Eurasian Fund for Stabilization and Development (EFSD) loan based on the results of the program to fulfill the conditions for the third tranche as of 1 September, Belarus' Prime Minister Andrei Kobyakov told the media, BelTA has learned.
“The program is in progress and we are meeting the conditions. There are all the prerequisites for Belarus to qualify for the third tranche based on the results of the program as of 1 September. The situation in the foreign exchange market is quite stable. There is a surplus of exchange offer on the market. The National Bank uses this surplus to purchase and maintain the level of gold and foreign exchange reserves,” the Prime Minister said.
According to Andrei Kobyakov, the issues related to possible cooperation with the IMF were discussed at a meeting with the President.
As was reported, on 29 July Belarus received $300 million as the second tranche of the Eurasian Fund for Stabilization and Development (EFSD) loan.
On 25 March 2016 the Belarusian Finance Ministry and the Eurasian Development Bank (EDB) signed an agreement on providing a $2 billion loan out of money of the Eurasian Fund for Stabilization and Development (EFSD). The agreement provides for allocating $2 billion to support the reform agenda in Belarus in 2016-2018. The economic policy measures and structural changes were approved by the Council of the Eurasian Fund for Stabilization and Development.
The loan is supposed to be granted to Belarus in seven tranches in 2016-2018. Two tranches have been transferred already. One more tranche is expected to be transferred in 2016, another three in 2017, and another one in 2018.
