March 27, Minsk / Anna Kot - BELTA/. Belarus expects to receive the fifth tranche of $440 million from the EurAsEC Anti-Crisis Fund (ACF) loan in April. This was announced to journalists today by the Minister of Finance of Belarus, Andrei Kharkovets, as reported by BELTA correspondent.
According to the Minister of Finance, on March 28, a meeting of the Expert Council of the EurAsEC Anti-Crisis Fund will be held, at which a decision will be made regarding recommendations to the Fund's Council. The date of the ACF Council meeting, which will make the decision on allocating the fifth tranche of the loan to Belarus, is not yet known.
Thus, the procedure is underway, despite the fact that it, unfortunately, goes beyond the previously established deadlines, noted Andrei Kharkovets.
The allocation of a financial stabilization loan to Belarus in the amount of $3 billion was approved by the ACF Council on June 4, 2011. Taking into account the fourth tranche, a total of $2.12 billion of the specified loan has been transferred to the country to support the balance of payments and replenish international reserves. In 2013, the republic expects to receive the fifth and sixth tranches of the loan, each for $440 million.
The Eurasian Development Bank (EDB) is an international financial organization established by Russia and Kazakhstan in January 2006 to promote the development of market economies of the participating states, their sustainable economic growth, and the expansion of mutual trade and economic ties. The authorized capital of the EDB exceeds $1.5 billion. The participating states of the bank are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan.
The EurAsEC Anti-Crisis Fund (ACF) in the amount of $8.513 billion was established on June 9, 2009, by the governments of the same six countries. The goals of the ACF are to assist member countries in overcoming the consequences of the global financial crisis, ensuring their economic and financial stability, and supporting integration processes in the region. The ACF member states have vested the EDB with the functions of managing the fund's assets and have signed an agreement with the bank on managing the ACF's assets.-0-