EDB to assess Belarus performance of the conditions for extending the fourth tranche of a loan from the EurAsEC Anti-Crisis Fund
Moscow, 22 October 2012.
After an official performance report is obtained from the Belarusian authorities, the Fund Resources Manager will continue to assess progress, including by means of consultations with Belarusian stakeholders. The performance report prepared by the Manager will be considered by the ACF Council of Experts and then at a regular meetings of the ACF Council.
On 4 June 2011 the ACF Council approved the extension to Belarus of a US $3 billion financial credit. To date, EDB has transferred three tranches to Belarus: US $800 million and $440 million in June and December 2011 respectively and US $440 million in June 2012.
Additional Information
Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital exceeds US $1.5 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan. Read more at https://www.eabr.org.
The EurAsEC Anti-Crisis Fund (ACF) amounting to US$8.513 billion was formed on 9 June 2009 by the governments of six countries: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. The objectives of the ACF are to assist the member countries in overcoming the consequences of global financial crisis, ensure their economic and financial stability, and foster integration processes in the region. The ACF member countries signed the Fund Management Agreement with Eurasian Development Bank giving it the role of the ACF Resources Manager.