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Russia Approves $1.55 Billion Loan To Belarus

The Russian government has approved a draft agreement on allocating a state loan of $1.55 billion to Belarus in 2014.

Reports say Moscow will disburse the loan in Russian rubles at the exchange rate of Russia's Central Bank effective as of the date of signing the deal.

According to a document posted on the Russian government's legal information portal, the loan will allow Belarus to repay and service its state debt and replenish its gold and foreign-exchange reserves.

The loan will be repaid in 20 six-month installments on January 15 and July 15 each year.

The first payment is scheduled for January 15, 2019.

Based on reporting by Interfax and ITAR-TASS