Lukashenko approves changes to terms of Russia’s loan for Belarus’ NPP project – ordinance
<p> MINSK, Jul 13 - PrimePress. Ordinance No.263 issued by President of Belarus Alexander Lukashenko on July 9, 2020 approves a protocol that amends the Belarusian-Russian intergovernmental agreement on the Russian state export loan for the construction of the Belarusian nuclear power plant (Astravyets District, Grodno Oblast). The ordinance is posted on the National Legal Internet Portal of Belarus. </p> <p> </p> <p> The draft protocol is proposed as a basis for negotiations between the two governments. Amendments to the protocol can be made, unless they are of a fundamental nature. The government of Belarus is authorized to sign the protocol upon approval of the draft. </p> <p> </p> <p> Adjustments to the loan terms suggest that a fixed interest rate of 3.3% per annum will be applied instead of the current mixed interest rate on the loan. The date on which Belarus will begin paying off the principal debt on the loan is postponed from April 1, 2021 to April 1, 2023. Experts estimated the benefit for Belarus from the announced change in lending terms at $600 million. </p> <p> </p> <p> Russia provided $10 billion in a state loan for the construction of the Belarusian NPP. The actual cost of the plant is expected to be lower since Russian rubles may be used as the payment currency. Russian general contractor Atomstroyexport JSC (Rosatom’s division) estimates the cost of the NPP at around $6 billion. As of April 1, 2020, Belarus used $4.33 billion for the construction. </p> <p> </p> <p> Belarus’ first nuclear power plant in Ostrovets (a town in the Grodno Region also referred to as Astravyets) will have two units with a combined capacity of up to 2,400 megawatts, which are slated to be launched in 2019 and 2020, respectively. The Belarusian nuclear station’s design stems from the AES-2006 design developed by the St Petersburg-based institute Atomenergoproject, which is also the general contractor of the Belarusian project. End </p>
2020-07-14
Primepress
Lukashenko approves changes to terms of Russia’s loan for Belarus’ NPP project – ordinance
MINSK, Jul 13 - PrimePress. Ordinance No.263 issued by President of Belarus Alexander Lukashenko on July 9, 2020 approves a protocol that amends the Belarusian-Russian intergovernmental agreement on the Russian state export loan for the construction of the Belarusian nuclear power plant (Astravyets District, Grodno Oblast). The ordinance is posted on the National Legal Internet Portal of Belarus.
The draft protocol is proposed as a basis for negotiations between the two governments. Amendments to the protocol can be made, unless they are of a fundamental nature. The government of Belarus is authorized to sign the protocol upon approval of the draft.
Adjustments to the loan terms suggest that a fixed interest rate of 3.3% per annum will be applied instead of the current mixed interest rate on the loan. The date on which Belarus will begin paying off the principal debt on the loan is postponed from April 1, 2021 to April 1, 2023. Experts estimated the benefit for Belarus from the announced change in lending terms at $600 million.
Russia provided $10 billion in a state loan for the construction of the Belarusian NPP. The actual cost of the plant is expected to be lower since Russian rubles may be used as the payment currency. Russian general contractor Atomstroyexport JSC (Rosatom’s division) estimates the cost of the NPP at around $6 billion. As of April 1, 2020, Belarus used $4.33 billion for the construction.
Belarus’ first nuclear power plant in Ostrovets (a town in the Grodno Region also referred to as Astravyets) will have two units with a combined capacity of up to 2,400 megawatts, which are slated to be launched in 2019 and 2020, respectively. The Belarusian nuclear station’s design stems from the AES-2006 design developed by the St Petersburg-based institute Atomenergoproject, which is also the general contractor of the Belarusian project. End