Agreement between the Government of the Republic of Belarus and Government of the Russian Federation on provision to the Republic of Belarus of public credit
of December 20, 2007
The government of the Republic of Belarus and the Government of the Russian Federation which are hereinafter referred to as with the Parties
proceeding from the Memorandum of present stage of development of economic cooperation between the Republic of Belarus and the Russian Federation of December 14, 2007,
agreed as follows:
The Russian side grants to the Belarusian Side public credit in the amount 1500 million US dollars.
The public credit is granted by the Russian Side according to the procedure, established by the legislation of the Russian Federation, on condition of accomplishment of obligations by the Belarusian Side on interest payment and repayment of principal debt on earlier granted public credits.
Means of the public credit granted according to this agreement on condition of accomplishment of provisions of Article 2 of this agreement by the Belarusian Side are listed by the Russian Side till December 31, 2007 into the currency account (in dale ENT specialists of the USA) the Ministries of Finance of the Republic of Belarus in National Bank of the Republic of Belarus. Date of use of public credit date of transfer of borrowing facilities on correspondent account of National Bank of the Republic of Belarus is considered.
The Belarusian Side repays the utilized public credit granted according to this agreement, way of money transfer in US dollars 40 equal quarterly shares on February 15, on May 15, on August 15 and on November 15 every year and the first payment will be made on February 15, 2013, and the last - on November 15, 2022.
1. The Belarusian Side pays to the Russian Side for use of public credit percent on LIBOR rate for 3-month deposits in US dollars plus margin in the amount of annual interest rate 0,75.
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