Belarus intends to receive the second tranche from the Anti-Crisis Fund of the Eurasian Economic Community (EurAsEC) in November, Belarusian Deputy Prime Minister Sergei Rumas told local media here on Tuesday.
"Belarus has met all the conditions. There are no grounds for withholding the disbursement of the second tranche," Rumas said, adding that November is the most possible date of receiving the second tranche. He noted that some organizational problems relating to personnel changes in the management of the EurAsEC Anti-Crisis Fund still need to be solved.
"It is expected that the extension of the second tranche will soon be considered by the experts and then by the board of the fund," he added. The agreement between Belarus and the Eurasian Development Bank on a 3-billion-U.S. dollar loan from the EurAsEC Anti-Crisis Fund was signed in June.
The credit will be allocated in six tranches during 2011-2013. Belarus received the first tranche of 800 million U.S. dollar on June 21. The loan will be used to replenish the international reserve assets and finance the country's deficit of the balance of payments, as Belarus is facing a severe financial crisis due to a large trade deficit and rapidly falling hard currency reserves.