Russian credits Belarus

This is a 10-year credit a with 4-year beneficial period.

It is not going to be a new credit allocate from the budget of the Russian Federation.

Belarus seeks a loan from Russia to avoid a blow on the country’s gold and foreign currency reserves.

The news came from Belarus Finance Minister Uladzimir Amaryn On Friday.

The changes were adopted by the Government of the Russian Federation on 13 May.

Belarus Finance Minister Uladzimir Amaryn says the money will be used to service the previous Russian loan.

It totals 6 billion 200 million Russian rubles which is $110 million.

He announced the proposal at today's meeting of the Russian government.

These can be both loans from the Russian government or from major Russian state-owned banks.