Russia extends deadline for Belarus’ NPP construction loan repayment by two years, sets fixed rate of 3.3% per annum
<p> MINSK, Jun 22 - PrimePress. Russia extends the deadline for the repayment of the loan for the construction of the Belarusian nuclear power plant (Astravyets District, Grodno Oblast) for two years until the end of 2022, and sets the fixed loan rate at 3.3% per annum (Russian government decree N0.1640-r of June 19, 2020 officially published on June 22, which approved the draft protocol on amending the intergovernmental agreement of November 25, 2011 on Russia’s export loan for the construction of the Belarusian NPP). </p> <p> </p> <p> The start date for Belarus to repay the principal debt on the loan is also postponed to April 1, 2023 from April 1, 2021. </p> <p> </p> <p> The Russian government instructed the Ministry of Finance to negotiate with Belarus new terms of the loan and sign a protocol. </p> <p> </p> <p> As reported, the Russian government lent Belarus $10 billion for the construction of the NPP, which covers 90% of the project cost. The credit line was opened until 2035. Repayment of the loan was supposed to begin six months after the NPP launch, but no later than April 1, 2021 in 30 equal shares every six months. 50% of the amount was to be charged at a rate of 5.23% per annum. The remaining 50% was interest at the LIBOR rate for six-month deposits in US dollars plus margin of 1.83% per annum. </p> <p> </p> <p> As of April 1, 2020, Belarus utilized $4.33 billion. According to Rosatom, the projected cost will not exceed $6 billion. </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>
2020-06-23
Primepress
MINSK, Jun 22 - PrimePress. Russia extends the deadline for the repayment of the loan for the construction of the Belarusian nuclear power plant (Astravyets District, Grodno Oblast) for two years until the end of 2022, and sets the fixed loan rate at 3.3% per annum (Russian government decree N0.1640-r of June 19, 2020 officially published on June 22, which approved the draft protocol on amending the intergovernmental agreement of November 25, 2011 on Russia’s export loan for the construction of the Belarusian NPP).
The start date for Belarus to repay the principal debt on the loan is also postponed to April 1, 2023 from April 1, 2021.
The Russian government instructed the Ministry of Finance to negotiate with Belarus new terms of the loan and sign a protocol.
As reported, the Russian government lent Belarus $10 billion for the construction of the NPP, which covers 90% of the project cost. The credit line was opened until 2035. Repayment of the loan was supposed to begin six months after the NPP launch, but no later than April 1, 2021 in 30 equal shares every six months. 50% of the amount was to be charged at a rate of 5.23% per annum. The remaining 50% was interest at the LIBOR rate for six-month deposits in US dollars plus margin of 1.83% per annum.
As of April 1, 2020, Belarus utilized $4.33 billion. According to Rosatom, the projected cost will not exceed $6 billion.
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