Belarus receives $688 mln loan tranche from IMF

Belarus has obtained a $688 million loan tranche from the International Monetary Fund, the country's National Bank said on Wednesday.

The IMF allocated Belarus its first tranche of $800 million in January, and the second tranche of $680 million was received in July. Minsk received $699.5 million in October.

The IMF's 15-month stand-by arrangement of $2.6 billion was confirmed in January, 2009. In June, the program's financing was increased by another $1 billion, bringing the total to $3.6 billion.

On Tuesday Belarus received a $200 million development loan from the World Bank. The loan has a 16 year maturity and a grace period of six years.

"The loan is granted to support the government's economic program aimed at eliminating the social consequences of the [financial] crisis and deepening structural reforms that provide a basis for the resumption of sustainable economic growth," the Belarusian National Bank said in a statement.

The World Bank's strategy of cooperation with Belarus envisages an increase in financial aid to the ex-Soviet republic from $100 million to $250 million annually in 2010-2011.

MINSK, December 23 (RIA Novosti)


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