Russia allocated additional loans for Belarus’ economy

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April 22, 2016 18:50

Under the agreement, Belarus will receive USD 500 mln for 8 years to construct the nuclear power plant and BelAZ will receive USD 75 mln funding for current operations. These loans are long-term, enabling to reduce the demand for foreign currency in 2014. Budgetary funds, which have already been spent on the NPP construction, will be reimbursed from the loan. The freed budgetary resources may be used to support other economic sectors. The loan’s terms do not envisage any repayments within the next four years. BelAZ and other organizations involved in the construction of the nuclear power plant will be able to reduce their current and overdue debts.

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