OREANDA-NEWS. July 12, 2011. Belarus expects at least a USD 1 billion loan by the end of July against potash fertilizer export proceeds, First Deputy Prime Minister Vladimir Semashko said in the parliament on Thursday.

“We are working on loans totaling at least USD 1 billion against future proceeds from export of potash fertilizers. We expect the money by the end of July,” Semashko said.

It was previously reported that Belarus had reached a preliminary agreement to borrow USD 1 billion from Uralkali with repayment in future potash deliveries at fixed prices. Reportedly, Uralkali reached an agreement to buy 50% plus one share in Belaruskali for USD 15 billion.