OREANDA-NEWS. Belarus negotiates taking a USD 2 billion intergovernmental loan from Russia, but it will not be necessary if Minsk succeeds in privatizing a USD 2.5 billion property this year, Russia’s Finance Minister Anton Siluanov said.

“It is in the position of being discussed, our leaders are considering this issue,” Siluanov told reporters, referring to the recent reports by the media about the possible loan.

Russia expected Belarus to privatize a USD 2.5 billion property in previous years. “It did not happen. If Belarus succeeds in selling the property for this sum, it will not need the loan,” he said.

As previously reported, Belarus plans to address Russia with a request to provide a USD 2 billion credit facility during the upcoming session of the Supreme State Council of the Union of Belarus and Russia (due on March 15).

Belarus has already prepared a contract to take out a USD 2bn state loan from Russia. The loan to be repaid by 2027 will be used to finance the upgrade of the Belarusian economy. Belarusian President Alexander Lukashenko announced in December 2012 that Belarus was asking Russia to provide it with USD 2 billion worth of cheap loans “to modernize enterprises”.