Russia is to grant a $30 million credit to Belarus

On Friday, the Russian government approved the draft agreement between the governments of Russia and Belarus on granting credit to Belarus in 2000. The agreement has been prepared in accordance with the agreement between the government and the Central Bank of Russia, and the government and the National Bank of Belarus on measures to establish conditions for introducing a single currency. According to the agreement, Russia is to grant a $30 million credit to Belarus to balance payments between Russia and Belarus. The Belarus party will make quarterly payments to repay this credit in 2003-2005. The credit and the interest will be repaid in US dollars, Prime-Tass reports. The agreement will come into force on the day the final notification of fulfillment of all the necessary conditions by each of the parties is received. It will be valid until Belarus fully repays the credit and the interest.