OREANDA-NEWS. June 22, 2011. Belarus and the Eurasian Development Bank (EDB) have inked the agreement for Belarus to take out a USD 3 billion loan from the EurAsEC Bailout Fund, the Finance Ministry said in a statement.

The document was signed in Minsk by Belarusian Finance Minister Andrei Kharkovets and EurAsEC Bailout Fund Executive Director Sergei Shatalov.

The loan will be provided in six tranches in 2011-2013. The first USD 800 million tranche will be transferred to the account of the Finance Ministry in the National Bank in mid-June,” Kharkovets said.

The loan will be used to finance the economic program of the Belarusian government and the NBB for the medium term.