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No date set yet to consider disbursement of EFSD seventh tranche to Belarus

Economy 25.04.2019 | 16:06
An archive photo
An archive photo

KONAKOVO, 25 April (BelTA) – No date has been set yet to consider the disbursement of the seventh tranche of the loan of the Eurasian Fund for Stabilization and Development to Belarus, Executive Director of the EFSD Project Block Andrei Shirokov told the media, BelTA has learned.

Andrei Shirokov recalled that the evaluation of compliance of Belarus with the requirements to qualify for the seventh tranche conducted by the EFSD in February showed that Belarus failed to meet the indicative target, namely the Belarusian government had not submitted the bill on insolvency or bankruptcy to the House of Representatives.

“We received the bill at the end of March. We evaluated it as compliant with the principles we agreed upon. We sent the relevant notification to the EFSD governing bodies. The EFSD Board has not yet set the date to consider the disbursement of the seventh tranche to Belarus,” Andrei Shirokov noted.

As BelTA has reported earlier, the time period during which Belarus may receive $200 million as the seventh tranche of the loan from the Eurasian Fund for Stabilization and Development has been extended till 30 June 2019. The Belarusian Finance Ministry said it is a technicality because the availability period expired on 31 March, however, the tranche had not been disbursed by that date.

BelTA reported earlier that in H1 2015 Belarus requested a loan to the tune of $3 billion from the EurAsEC Anti-Crisis Fund (now known as the Eurasian Fund for Stabilization and Development). The initial sum of $3 billion was reduced to $2 billion after negotiations. Belarus is supposed to receive the money in seven tranches.

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