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News // Russia

Russia Loans $175 Million To Belarus

15 December 2004 , 11:46600
The Russian government has approved a government loan to Belarus in 2004 of $175-million worth to cover Russia's natural gas exports to the republic and to balance payments on mutual trade between the two countries.

Belarus is to repay the loan in equal shares on January 15, April 15, July 15 and October 15 every year. The first payment will be made on July 15, 2006, and the last on October 15, 2010.

Russia's state payment agent Vnesheconombank (VEB) and Belarus' National Bank of Belarus are to act on behalf of the two countries to sign the agreement. The press service did not specify exactly when the agreement will signed, Prime-Tass said.

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