OREANDA-NEWS. May 17, 2011. The Russian Finance Ministry only considers lending Belarus from the EurAsEC Bailout Fund, Russian Deputy Prime Minister and Finance Minister Alexei Kudrin told reporters.

“We consider a loan to Belarus only from the EurAsEC Fund,” he said, commenting on the talks between the two countries over a USD 3 billion loan.

Kudrin reminded that Belarus had applied for a USD 1 billion loan from Russia and a USD 2 billion loan from the EurAsEC.

Kudrin said Russia did not consider a loan to Belarus at all, but only mulled a loan from the EurAsEC Bailout Fund.

“We do not consider our contribution,” Kudrin said. He added that the Russian Finance Ministry would try to work out common approaches with the Belarusian side. Some decisions may be made during Prime Minister Vladimir Putin’s coming visit to Minsk next week, Kudrin added.

“We will try to have all the matters clarified by the day of the visit,” Kudrin said, adding that the decision on the loan had not been made yet.

“We keep working on this and see Belarus’ understanding of the issues we have now,” he said.

Negotiators are now in talks over a USD 1 billion loan from EurAsEC in 2011 and loans to the same amount in 2012 and 2013.

Kudrin admitted that the sum could not be enough for Belarus. “We believe Belarus may still be short of financing, and the country may have to apply to the IMF,” he said.

Kudrin said Russia would be ready to support Belarus if it should apply for a new loan from the IMF or other international organizations. “The IMF may set out some additional conditions, but when it comes to large loans, our positions would be similar,” he said.

Kudrin also said Belarus could apply for loans to third countries on a bilateral basis.