OREANDA-NEWS. October 5, 2011. Russia’s Sberbank and Belarus’ government have agreed on the terms of a USD 1 billion loan for Belarus, Russia’s Ambassador in Minsk Alexander Surikov told.

The principle agreement on issuing the loan has already been made, and now the parties are negotiating the details, Ambassador Surikov said. So far the parties have agreed that instead of a syndicated loan by Sberbank and Deutsche Bank, Belarus will get a loan solely backed by Sberbank, Surikov said.

Belarus’ vice premier Sergei Rumas was earlier quoted as saying that Russia’s Sberbank had confirmed that Belarus could count on drawing a USD 1 bn government-secured loan against the security of a 51% shareholding in Belarus’ OJSC Naftan oil refinery. Prior to that the parties had agreed that Sberbank would provide a USD 1 billion loan to OJSC Belaruskali without pressing the Belarusian company to pledge its shares.