Russia’s Vnesheconombank starts transferring Belarusian nuclear station loan

        Belarus received $16.3 million as part of the credit agreement between the Belarus government, Russia’s Vnesheconombank and Belvnesheconombank, BelTA quotes representatives of the Belarusian Finance Ministry. In line with the credit agreement on financing the construction of the Belarusian nuclear power plant the Russian bank is to open an eight-year credit line as large as $500 million for covering the Belarusian part of the expenses involved in the project. The terms of the loan are optimal for both sides. The interest rates correspond to those on the global market. They are based on interest rates available in Vnesheconombank’s loans and on Belarus’ credit rating.
      The credit agreement was signed on 15 May. The credit line will reduce foreign currency outflow from Belarus and will also help keep up the country’s forex market stable. Since the construction of the Belarusian nuclear power plant began, as much as $166 million of public funds has been spent on the project.