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 March 6, 2009
The government of the Republic of Belarus and the Government of the Russian Federation which further are referred to as with the Parties for the purpose of further strengthening of friendship between two states agreed as follows:
The Russian side will provide to the Belarusian Side in 2009 the public financial loan in the amount of 500 million US dollars (further - the credit).
The loan 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 the public credits which are earlier granted by the Russian Side.
Funds of the credit are transferred by the Russian Side within 7 working days from signature date of this agreement into the currency account (in US dollars) the Ministries of Finance of the Republic of Belarus in National Bank of the Republic of Belarus. Date of use of the credit date of transfer of borrowing facilities on correspondent account of National Bank of the Republic of Belarus is considered.
The Belarusian Side repays used credit by money transfer in US dollars 40 equal quarterly shares on January 15, on April 15, on July 15 and on October 15 every year, and the first payment will be made on April 15, 2014, and the last - on January 15, 2024.
1. The Belarusian Side pays to the Russian Side for use of the credit percent on LIBOR rate for 3-month deposits in US dollars plus margin in the amount of 3 (three) annual interest rates.
LIBOR rate for 3-month deposits in US dollars is understood as the rate for 3-month deposits in US dollars in the London interbank market as of the first day of the corresponding period of charge of percent published on the LIBOR 01 page by Reuters news agency.
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