Eurasian Development Bank fund approves $500m credit for Belarus

The Eurasian Fund for Stabilization and Development - managed by the Eurasian Development Bank - has approved the provision of $500 million budget support to Belarus. 

The funds will be provided for up to ten years with a five-year grace period at a floating interest rate (the average yield of Russian US dollar-denominated Eurobonds for seven years). The EFSD credit will be used to implement Belarus’s Government and National Bank’s programme to counter the impacts of COVID-19 on the economy and the financial and social sectors and help to maintain the country’s gross international reserves.