EFSD conducting preliminary consultation with Belarus on new loan
<p> MINSK, Aug 11 - PrimePress. The Eurasian Fund for Stabilization and Development (EFSD) of the Eurasian Development Bank (EDB) is conducting preliminary consultations with Belarus’ authorities regarding a new financial credit, EFSD acting CEO Andrey Shirokov said in a statement. </p> <p> </p> <p> As previously reported, President of Belarus Alexander Lukashenko said on August 9 that he had asked the Russian leadership to allocate a loan from the Eurasian Development Bank (EDB, which is the manager of the EFSR funds) to combat the effects of the coronavirus pandemic. </p> <p> </p> <p> “At present, EDB representatives are holding preliminary consultations with Belarus authorities to fill in a programme matrix of measures that can be supported under a potential EDB financial loan in the medium term. It is still premature to talk about the amount of the loan and the specific timing of its disbursement,” Shirokov said in a comment to Interfax. </p> <p> </p> <p> As previously reported, the Eurasian Development Bank (EDB) in Oct 2020 disbursed a U.S. $500 million tranche of the Eurasian Fund for Stabilization and Development’s loan to Belarus. On 12 October 2020, Belarus and the EDB signed an agreement on granting a financial credit from the Eurasian Fund for Stabilization and Development (EFSD) to support the budget of the Republic of Belarus in the conditions of the COVID-19 pandemic. The loan in the amount of $500 million was granted for 10 years in one tranche at a floating interest rate, which is defined as the average yield of Russian Eurobonds in US$ for a period of 7 years. The grace period is up to 5 years. </p> <p> </p> <p> The Eurasian Fund for Stabilization and Development (EFSD) is a regional financial tool established in 2009 by Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan inn the amount of $8.513 billion. Its purpose is to help overcome crises, ensure long-term sustainability and facilitate integration of national economies of its member states. The fund is generated by contributions made by the member states. The Russian Federation accounts for 90%. The EFSD is managed by the Eurasian Development Bank. End </p>
2021-08-12
Primepress
EFSD conducting preliminary consultation with Belarus on new loan
MINSK, Aug 11 - PrimePress. The Eurasian Fund for Stabilization and Development (EFSD) of the Eurasian Development Bank (EDB) is conducting preliminary consultations with Belarus’ authorities regarding a new financial credit, EFSD acting CEO Andrey Shirokov said in a statement.
As previously reported, President of Belarus Alexander Lukashenko said on August 9 that he had asked the Russian leadership to allocate a loan from the Eurasian Development Bank (EDB, which is the manager of the EFSR funds) to combat the effects of the coronavirus pandemic.
“At present, EDB representatives are holding preliminary consultations with Belarus authorities to fill in a programme matrix of measures that can be supported under a potential EDB financial loan in the medium term. It is still premature to talk about the amount of the loan and the specific timing of its disbursement,” Shirokov said in a comment to Interfax.
As previously reported, the Eurasian Development Bank (EDB) in Oct 2020 disbursed a U.S. $500 million tranche of the Eurasian Fund for Stabilization and Development’s loan to Belarus. On 12 October 2020, Belarus and the EDB signed an agreement on granting a financial credit from the Eurasian Fund for Stabilization and Development (EFSD) to support the budget of the Republic of Belarus in the conditions of the COVID-19 pandemic. The loan in the amount of $500 million was granted for 10 years in one tranche at a floating interest rate, which is defined as the average yield of Russian Eurobonds in US$ for a period of 7 years. The grace period is up to 5 years.
The Eurasian Fund for Stabilization and Development (EFSD) is a regional financial tool established in 2009 by Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan inn the amount of $8.513 billion. Its purpose is to help overcome crises, ensure long-term sustainability and facilitate integration of national economies of its member states. The fund is generated by contributions made by the member states. The Russian Federation accounts for 90%. The EFSD is managed by the Eurasian Development Bank. End