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28 March 2018, 12:59

Belarus hopes to receive sixth EFSD tranche by end of spring

An archive photo
An archive photo

MINSK, 28 March (BelTA) – Belarus expects to receive the sixth tranche of the Eurasian Fund for Stabilization and Development (EFSD) by the end of spring, Belarusian Deputy Finance Minister Yuri Seliverstov told journalists on 28 March, BelTA has learned.

When asked about when Belarus expects to get the sixth EFSD tranche, Yuri Selivestrov remarked that the talks are underway. “There is ongoing work with the EFSD. This work, however, was hampered by the processes in Russia. Our colleagues probably did not have enough time. As for the sixth tranche, will think we will get it by the end of spring,” he clarified.

The Belarusian Finance Ministry is discussing some parameters of the deal to receive the tranches, the deputy minidter said. “First Deputy Finance Minister Maksim Yermolovich is holding negotiations with the EFSD colleagues. The parameters had to be amended for the seventh tranche. The scale of these amendments will be discussed at the negotiations,” Yuri Seliverstov underlined.

It was reported earlier that on 25 March 2016 the Belarusian Finance Ministry and the Eurasian Development Bank (EDB) signed an agreement on a $2 billion loan to be provided by the Eurasian Fund for Stabilization and Development. The agreement envisages allocating the money to support economic policy measures and structural changes of the Belarusian government and the National Bank in 2016-2018. The economic policy measures and structural changes were approved by the EFSD Council. The money shall be granted in seven tranches in 2016-2018. Belarus' government budget received $200 million as the fifth tranche of the loan on 25 October 2017.

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