of June 23, 2010
The government of the Republic of Belarus and the Government of the Azerbaijan Republic which further are referred to as with the Parties agreed as follows:
1. The government of the Azerbaijan Republic will grant to the Government of the Republic of Belarus public credit in the amount of 200 000 000 (two hundred million) US dollars for a period of 12 (twelve) calendar days without payment of interest payments.
1. During one banking day from signature date of this agreement the Azerbaijani Side will transfer the amount in the amount of 200 000 000 (two hundred million) US dollars single payment into the currency account of the Ministry of Finance of the Republic of Belarus in National Bank of the Republic of Belarus according to the details specified in appendix 1 to this agreement.
2. The Belarusian Side settles outstanding amount in the amount of 200 000 000 (two hundred million) US dollars within 12 (twelve) calendar days from the date of transfer of funds for the account of the Ministry of Finance of the Republic of Belarus in National Bank of the Republic of Belarus.
3. Repayment of outstanding amount is made by single payment in the amount of 100% of outstanding amount according to the details specified in appendix 2 to this agreement.
1. The payment which is not made in time, specified in Item 2 of Article 2 of this agreement is considered overdue payment.
2. On the amount of overdue payments penalty interests for each day of delay of payments at Libor rate for six-months deposits in US dollars plus margin 2 (two) annual interest rates at the rate of 365 days in year are charged.
3. Aggregate term on charge of penalty interests is reckoned from the date following the established payment date of debt and comes to an end with date of the actual debt repayment.
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