Eurasian Development Bank disburses $300 mln loan tranche to Belarus
MINSK. June 29 (Interfax) - The Eurasian Development Bank (EDB) , which manages the Eurasian Fund for Stabilization and Development (EFSD), has disbursed a fourth loan tranche of $300 million to Belarus, the EDB reported.
"The fund's board made the decision to disburse the tranche on June 26, 2017 on the basis of fulfillment of all terms of the program aside from one control indicator, for which an exemption has been made, and inclusion of additional control indicators in relation to the sixth and seventh tranches," the statement says.
Belarus has received $1.4 billion so far out of the loan total of $2 billion.
The Belarusian Finance Ministry signed the agreement with the EDB on receipt of the EFSD loan on March 25, 2016.
The borrowing will be used to support economic policy and structural reform of the government and the National Bank of Belarus in the 2016-2018 period.
Belarus received the first tranche for $500 million on March 30, 2016, the second for $300 million on July 29, 2016 and the third for $300 million on April 26, 2017.