EurAsEC unlikely to okay next loan tranche for Belarus before mid-November - Kudrin
LONDON. July 8 (Interfax) - It is unlikely that it will be clear before mid-November whether Belarus will receive the next tranche of a $3 billion loan from the Anti-Crisis Fund of the Eurasian Economic Community (EurAsEC), Russian Finance Minister Alexei Kudrin said,
"The next review of the fulfillment of all the conditions for the next tranche will be made approximately in October, even in November, which is most likely - whether the targets to be met by the end of October under the program have been met. Accordingly, we will draw our conclusions by the middle of November and will make our decisions on all the points," Kudrin told reporters in London.
Belarusian restrictions on imports from Russia are one of the potential obstacles to releasing the tranche, according to Kudrin. "As regards imports, of course they may come into account," the minister said.
The loan, approved by the Anti-Crisis Fund on June 4, is to come to Belarus in tranches over a three-year period. The first $800 million installment was released last month. The next tranche of $440 million is to come this autumn. A tranche of $800 million is scheduled for 2012 and one of $1 billion for 2013.