The Eurasian Development Bank and the Republic of Belarus signed today in Minsk an agreement on the provision of a financial credit to Belarus through the EurAsEC Anti-Crisis Fund (ACF).
On the Belarus side, the agreement was signed by Minister of Finance Andrei Kharkovets; on EDB’s side by Sergey Shatalov, Deputy Chairman of the Executive Board and ACF Managing Director.
“We signed today a loan agreement for a US$3 billion financial credit from the ACF for 2.5 years,” said Sergey Shatalov. He added that, to date, this was the largest loan provided by the ACF.
According to Mr Shatalov, the loan is provided to support the government and National Bank’s stabilisation programme which is intended to redress the imbalance of the country’s economy, strengthen its financial capacity, improve the competitiveness of its products in global markets, and build a base for a long-term economic growth.
Sergey Shatalov reminded that Belarus was hosting an IMF mission which was discussing the economic situation with the country’s authorities.
“We will cooperate closely with the Ministry of Finance, the National Bank, and other authorities of Belarus throughout the period of the programme. We are pleased that we are not alone in this cooperation. An IMF team is now working in Minsk, which is discussing similar issues. This let us hope that Belarus will receive wide support at the international level,” said Mr Shatalov.
