Russia Changes Terms on $1.5 Billion Loan to Belarus

By Reuters

May 13, 2015

Russia's President Vladimir Putin (L) welcomes Belarus' President Alexander Lukashenko at the Kremlin in Moscow, May 8, 2015. Host Photo Agency / RIA Novosti / Reuters

The Russian government has agreed to change the terms of loans it provided to Belarus by changing their maturity, the RIA news agency reported Wednesday.

It said the government would change the terms of a $1.55 billion loan agreed on Jan. 31, 2014 and demand Belarus pay off what was left in 14 payments.

The first payment was expected on Jan. 15, 2017, RIA added. The Russian government will also accept payment in a currency other than U.S. dollars, RIA said.

It did not provide other details. In September, the RBC news agency reported that Russia had issued a loan of the same amount to support Belarus' gold and foreign exchange reserves as well as to help the country service its debt.

The loan was to be paid off in 20 equal payments, with the first payment on Jan. 15, 2019.

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