Approval of the stabilization credit to the Republic of Belarus in the amount of 2 billion US dollars in seven tranches during 2016-2018 was done by the Fund Council on 25 March 2016. The major objective of the credit is to support the Program of the reforms of the Government and National Bank of the Republic of Belarus aimed at creating the conditions for the country to get to the trajectory of sustainable growth by improving the quality of economic policies and implementing structural reforms. According to the agreed methodology, interest rate for the credit has been fixed at 4,06% p.a., which reflects yields for RF and RK Eurobonds consistent with the average weighted maturity of the credit (7 years) as of 23 March 2016, weighted to the country’s share in the EFSD capital.
Stabilization credit for Republic of Belarus
The Manager’s Appraisal of the request of the Republic of Belarus for the stabilization credit