Russia Is To Give Belarus $ 700 Million To Repay Debt

The corresponding order has been signed by Dmitry Medvedev.

Belarus received a ten-year state loan from Russia amounting to $ 700 million. The funds will be used to refinance Minsk's obligations to Moscow on the previous loan, mk.ru writes.

The Russian government approved the decision to allocate a $ 700 million loan to Belarus. An order to sign the relevant agreement was posted on the official portal of legal information.

In accordance with the document, the money will be allocated "in order to promote the friendship" and to give Belarus an opportunity to pay back the loan issued by Russia.

"The loan is given in Russian rubles ... for repayment and servicing of the state debt of the Republic of Belarus to the Russian Federation in 2017," – the draft agreement says.

Belarus has to repay a new loan within ten years. Since 2018, it has to be repaid annually by two tranches ranging from $ 35 million to $ 133 million.