Belarus-OPEC loan agreement worth $20m approved by presidential ordinance

<p> MINSK, Mar 12 - PrimePress. The loan agreement between Belarus and the OPEC Fund for International Development (the public health emergency care programme) to the tune of $20 million signed on 24 December 2020 was approved by presidential ordinance #89 of 11 March 20201. The text of the ordinance was published on the National Legal Internet Portal on 12 March. </p> <p>   </p> <p> The document instructs the Ministry of Finance to repay and service the loan within the terms specified in the loan agreement. </p> <p>   </p> <p> It was reported that the OPEC loan will be provided for a period of 18 years. Belarus has not worked with this lender before. </p> <p>   </p> <p> Belarus’ Healthcare Minister Dmitry Pinevich explained the terms and the purpose of a $20 million loan from the OPEC International Development Fund. In his words, the loan is not tied. It can be used to finance budget expenditures on COVID-19. The loan has not been granted for a specific purpose such as purchase of medicines, equipment or salary projects, Dmitry Pinevich explained. </p> <p>   </p> <p> The minister noted that this is not the first borrowing of this kind. The Healthcare Ministry is also working with the World Bank on this matter. But unlike the OPEC Fund it extends loans for specific purposes such as purchase of medicines, equipment, awareness raising. End </p>

2021-03-13

Primepress