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Belarus says Russia promises new loans of over $1 billion

Staff Writer |
Moscow has promised over $1 billion in loans for Belarus after last week's talks between the leaders of two countries, Belarusian Deputy Prime Minister Vladimir Semashko told the local ONT TV station.

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Moscow could also help Belarus tap into an additional $600 million from the Russia-led Eurasian Fund for Stabilization and Development, Semashko said.

Last week, at a meeting in St Petersburg between Russian President Vladimir Putin and Belarussian leader Alexander Lukashenko, Russia agreed to refinance Belarus' debt while Belarus will pay back more than $720 million in arrears for gas supplies.

According to Russian Deputy Prime Minister Arkady Dvorkovich, Russia will also renew oil supplies to Belarus of 24 million tonnes a year and Russia's Gazprom will give Belarus discounts on gas supplies in 2018 and 2019.

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