This content is from: Innovation

Belarus Secures $3B Bailout Loan

Belarus has secured a bailout credit facility worth $3 billion from the Russia-led regional stabilization fund.

Belarushassecured a bailout creditfacility worth $3 billion from the Russia-led regional stabilization fund, The Wall Street Journal reports. The finance ministers of six former Soviet states have agreed to give Belarus a bailout loan for 10 years with a three years grace period.

The money will be arranged from the special $8.5 billion Russia-led bailout fund of the Eurasian economic community. The first tranche of $800 million will be transferred within the next 15 days and another $440 million by the end of 2011. The east European country is looking for a separate bailout package from the International Monetary Fund, adds Bloomberg.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Bloomberg.

Related Content