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Belarus Gets $300 Million Loan From Eurasian Fund

The third tranche of the Eurasian Fund for Stabilization and Development (EFSD) loan has been transferred to Belarus, Finance Ministry told the media.

“As much as $300 million was transferred to the national budget on 26 April,” the Finance Ministry said.

Belarus expected to receive this money back in autumn 2016.

According to the credit program, Belarus could get the third tranche on condition it adopted the program of the state enterprises sector reform. Besides, under the conditions from EFSD, the government was to make a decision on social protection of vulnerable groups of the population and increase unemployment benefits.

On 25 March 2016 the Belarusian Finance Ministry and the Eurasian Development Bank (EDB) signed an agreement about $2 billion loan from the Eurasian Fund for Stabilization and Development. The money was allocated to support economic policy measures and structural changes of the Belarus government and the central bank in 2016-2018.

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Belarus had already received the first two tranches of the loan: $500 million in March 2016 and $300 million in July last year.

Belarusian analysts believe that the delay of the third tranche was caused by the oil and gas dispute between Moscow and Minsk.