OREANDA-NEWS. Belarus on June 27, 2014 transferred a first instalment in the amount of USD 88.3 million in settlement for the standby credit provided by the EurAsEC Financial Bailout Fund, the Finance Ministry of Belarus said in a statement.

The Finance Ministry would not announce the schedule of payments to repay the EurAsEC standby credit.

The Eurasian Development Bank signed an agreement with Belarus on the allocation of a USD 3 billion loan in June 2011. The funds are transferred in six tranches. The first, USD 800 million tranche was given to Belarus in June 2011, while four tranches amounting to USD 440 million each were transferred in December 2011, June 2012, January and April 2013.

In December 2013, the anti-crisis fund of the EurAsEC postponed allocating the tranche until July-September 2014 because the country failed to reach targets of the stabilization program. According to a preliminary schedule, Belarus was supposed to receive the last tranche by the end of 2013.