4 Jun 2011 20:27

EurAsEC to extend $3 bln floating-rate loan to Belarus for 10 years - Kudrin

KYIV. June 4 (Interfax) - The board of the Eurasian Economic Community (EurAsEC) anti-crisis fund endorsed the extension of a $3 billion floating-rate loan to Belarus for ten years at a meeting on Saturday, Russian Deputy Prime Minister and Finance Minister Alexei Kudrin told journalists following the meeting.

"We have considered the extension of a $3 billion loan to the Republic of Belarus. We made a positive decision today. The loan will be extended for ten years with a three-year grace period. The interest rate will be floating, it will correlate with the [rate] of Russia's borrowings, which is about 4.1% at the moment," he said.