MINSK — Belarus' state-controlled fertilizer producer, Belaruskali, signed a $1 billion loan agreement with Sberbank and the Eurasian Development Bank on Friday.
Belarus gave government guarantees and pledged a stake "in a large Belarussian company" to secure the loan, Sberbank chief executive German Gref told reporters, without specifying the company. Sberbank will provide $900 million and the Eurasian Development Bank $100 million, BelTA reported Friday, citing EDB chairman Igor Finogenov.
Belarus is awaiting the second installment of a $3 billion bailout loan provided by the Russia-led Eurasian Economic Community, whose anti-crisis fund is managed by the EDB. Belaruskali is the nation's most profitable company.