OREANDA-NEWS. Belarus intends to get the sixth USD 440 million tranche of the loan from the EurAsEC Anticrisis Fund in November 2013. The information was released by Belarusian Deputy Finance Minister Maxim Yermolovich on 8 August.

“The plan specifies that we have to complete the program after nine months. Then it will be followed by an analysis by Anticrisis Fund experts, [a session of] the expert council, a session of the Anticrisis Fund Council. I don't want to make any forecasts regarding how things will turn out. In essence we should get the tranche this year, approximately in November unless negotiations with the Anticrisis Fund delay once again,” said the Deputy Finance Minister.

In June 2013 the EurAsEC Anticrisis Fund Council approved the Belarusian letter of intent, which letter specifies the parameters that have to be fulfilled for Belarus to get the sixth tranche of the loan. In October the EurAsEC Anticrisis Fund will evaluate the fulfillment of the requirements by reviewing the performance of the Belarus economy in January-September 2013. The increase in bank lending to the economy is now a controlling figure, it used to be an indicative one.

On 4 June 2011 the EurAsEC Anticrisis Fund Council authorized the allocation of a USD 3 billion financial loan to Belarus. The loan comes in six tranches in 2011-2013 in step with the fulfillment of the Belarus government stabilization program, which is aimed at stabilizing the balance of payments and enhancing the competitive ability of the economy. Financial terms of the loan match the standard terms offered by the Anticrisis Fund to participating states with an average level of income. The loan's period is ten years, including a three-year grace period. The loan has a floating interest rate, which reflects Russia's funding price on international markets.

A total of USD 2.560 billion has been received in five tranches so far for the sake of maintaining the balance of payments and replenishing the international reserves. No new credit program with the EurAsEC Anticrisis Fund has been discussed yet.

As large as USD 8.513 billion, the EurAsEC Anticrisis Fund has been instituted by the governments of Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. The states are also participants of the Eurasian Development Bank. The EurAsEC Anticrisis Fund aims to assist the participating states in overcoming consequences of the global financial crisis, securing their economic and financial stability, and supporting integration processes in the region. The Eurasian Development Bank has been entrusted with managing money of the EurAsEC Anticrisis Fund.