Construction of the NPP will be conducted completely under the credit facilities
Having a high external debt and the vague prospect of its service with meager gold reserves, the Belarusian authorities further aggravate the situation by building a nuclear power plant in the loan, without having even 10% of own funds. Thus, by analogy with the Sberbank,
supervising privatization and credit transactions in the energy sector of Belarus, another major Russian state-owned bank will be financing the nuclear power plant.
Vnesheconombank will credit advance payments of Belarus on nuclear power plant construction in the amount of $ 500 million
It is through Vnesheconombank and the Belarusian \"daughter\" funds of the Russian loan for the construction of nuclear power plants will be held. The entire project to build the nuclear power plant is designed for $10 billion, where the Belarusian side has to pay 10% at their own expense, and 90% - at the expense of the Russian loan. Accordingly, Belarus must find about $ 1 billion, however, the country does not have such money so far, and it searches for new lenders. According to the BVEB Head P. Kallaur, it will be needed about $ 500 million under the contracts to be concluded in the first five years, and it will be provided by his bank. Accordingly, Belarus will not have to take own money from the gold reserves.
Thus, the financing of the ten percent part, which must be paid off by the Belarusian side, will be conducted at the expense of the loan. And so having a high external debt and the vague prospect of its services and payments in scarce gold reserves, Belarus exacerbates the situation by building a nuclear power plant in the loan. It is obvious that the Belarusian authorities are not considering the return period of these loans as close, or not going to give this loan back. In any case, the strategic plan of President Lukashenko, who dismissed the key deputies of P.Prokopovich from the National Bank in 2010, becomes clear. Now BPS-Sberbank and BVEB are the main currency breadwinners to the country, controlling a variety of transactions. The professionalism and quality of NB management have fallen sharply, but it’s is not very important for Alexander Lukashenko. On the other hand, he is absolutely sure of the loyalty of the heads of the major subsidiaries of Russian banks in Belarus.
The Belarusian authorities regard the Catholic conference as yet another international event to promote Minsk as a global negotiating platform. Minsk’s proposal to organise a meeting between the Roman-Catholic Church and the Russian Orthodox Church is rather an image-making undertaking than a serious intention. However, the authorities could somewhat extend the opportunities for the Roman-Catholic Church in Belarus due to developing contacts with the Catholic world.
Minsk is attempting to lay out a mosaic from various international religious, political and sportive events to shape a positive image of Belarus for promoting the Helsinki 2.0 idea.
Belarus’ invitation to the head of the Holy See for a meeting with the Patriarch of the Russian Orthodox Church should be regarded as a continuation of her foreign policy efforts in shaping Minsk’s peacekeeping image and enhancing Belarus’ international weight. The Belarusian authorities are aware that their initiative is unlikely to find supporters among the leadership of the Russian Orthodox Church in Moscow. In Russia, isolationist sentiments prevail.
In addition, for domestic audiences, the authorities make up for the lack of tangible economic growth with demonstrations of growth in Minsk’s authority at international level through providing a platform for religious, sportive and other dialogues.