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15 September 2020, 18:32

Belarus to sign $20m loan agreement with OPEC Fund in September

MINSK, 15 September (BelTA) – The Belarusian Finance Ministry expects to sign a $20-million loan agreement with the OPEC Fund in September, Deputy Finance Minister Andrei Belkovets said as he took part in the webinar of the Cbonds agency, BelTA has learned.

“The next project which is almost ready for signing is a loan agreement with the OPEC Fund. The money will be used to compensate for the state budget's previous expenditures on fighting the COVID-19 spread,” Andrei Belkovets noted. “We expect to sign the $20-million loan agreement in September,” he added.

According to Andrei Belkovets, Belarus intends to continue cooperating with the fund. “The OPEC Fund is ready to lend Belarus up to $100 million,” the deputy minister said.

Belarus is also working to attract financing from the European Investment Bank to respond to COVID-19.

Previously Belarus borrowed €90 million from the World Bank for the sake of fighting the coronavirus.

No plans are in place to borrow from China this year, Andrei Belkovets added.

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