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 14, 2004
The government of the Republic of Belarus and the Government of the Russian Federation which are hereinafter referred to as with the Parties agreed as follows:
The government of the Russian Federation provides to the Government of the Republic of Belarus in 2004 public credit in the amount of 175 million US dollars for the purpose of ensuring deliveries to the Republic of Belarus the Russian natural gas and ensuring balance of calculations in mutual trade between the Russian Federation and the Republic of Belarus.
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 payment of interest payments and repayment of principal amount on earlier granted loans.
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 transferred by the Russian Side into the currency account (in US dollars) the Ministries of Finance of the Republic of Belarus in National Bank of the Republic of Belarus within ten working days from signature date of this agreement. 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 the used credit granted according to this agreement, way of money transfer in US dollars 18 equal quarter shares on January 15, on April 15, on July 15 and on October 15 every year and the first payment will be made on July 15, 2006, and the last - on October 15, 2010.
1. The Belarusian Side pays to the Russian Side for use of the credit percent on LIBOR rate for three-months deposits in US dollars plus margin in the amount of annual interest rate 0,8.
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