4 May 2015, Monday, 12:00

Minsk left without EurAsEC loan’s sixth tranche

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Belarusian authorities did not meet the conditions for its allocation.

BelaPAN learnt that from the director of the project group on financial loans of the anti-crisis fund’s project section Alisher Mirzoev.

According to him, in early July the anti-crisis fund’s council made the decision to reschedule the control date for the sixth tranche from 1 July to 1 October. By 1 August the Belarusian party must agree on the parameters to be met for the sixth tranche allocation with the Eurasian Development Bank.

“The fund’s council meeting that took place on 2 July has rescheduled the control date for the sixth tranche of the loan to 1 October of the current year, and has tasked the borrower and the manager to present an agreed matrix of measures for the sixth tranche allocation (including the threshold levels for all the indicators) for consideration by the fund’s council before 1 August”, - Alisher Mirzoev said.

Accordingly changed the terms for the consideration of the issue on providing Belarus with the sixth tranche of the loan. “The issue of the allocation of the loan’s sixth tranche will be considered by the fund’s council in late 2014 based on how the conditions for the allocation will have been met by 1 Ocotber”, - Alisher Mirzoev specified.

According to the media, the rescheduling of the control date of the sixth tranche is caused by the fact that not all the parameters for its allocation were agreed upon by the due date.

We would remind that the decision to provide Belarus with a loan in the amount of 3 billion USA dollars was approved by the Eurasian Economic Community anti-crisis fund’s council in June 2011. The funds are intended to stabilize the balance of payments and improve the competitiveness of the Belarusian economy. It was supposed that the loan would come in six tranches throughout 2011-2013 along with Belarusian government’s meeting the requirements of the stages of the loan program. Belarus received the fifth tranche of the anti-crisis fund’s loan on 30 April 2013. The allocation of the last tranche was expected in November last year, but in December the council decided to postpone the consideration of this issue by half a year until 1 July 2014 due to the fact that the Belarusian party had not met 10 requirements of the loan program.

In June this year Russia’ ambassador to Belarus Aleksandr Surikov assumed at a press-conference in Minsk that the issue of the allocation of the sixth tranche would be considered in the third quarter. “In July the representatives of the Eurasian Development Bank, which manages the fund, are supposed to meet the representatives of Belarus. The embassy sets a task for itself to bring this meeting closer in time, so the sixth tranche was allocated for Belarus already in September-October”, - Surikov said.

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