Belarus is planning to offer a 51 percent stake in its Naftan refinery as collateral for a $1 billion loan from Russia’s Sberbank, Reuters reports. Last month, the Soviet republic refused to provide a stake in its potash miner Belaruskali as collateral for a $2 billion loan from Sberbank. A Russian-led regional fund has promised Belarus it will lend $3 billion over the next three years. The country is seeking external loans to fund its current account deficit, at 14.7 percent of GDP this year.
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