March 27, 2015 / 4:30 PM / 4 years ago

UPDATE 1-Russian government to loan $110 mln to Belarus

(Adds details on loan, context)

MOSCOW/MINSK, March 27 (Reuters) - Russia said on Friday it would provide a $110 million loan to Belarus, whose economy has been hit by the conflict in neighbouring Ukraine and the weakening of the Russian rouble.

The former Soviet republic has a record $4 billion in debt payments this year, mostly to Russia and the International Monetary Fund.

“To avoid transaction and foreign exchange risks associated with the fluctuation of the dollar rate, the loan and the servicing of the debt will be carried out in Russian roubles,” the Russian government said on it web site.

The ten-year loan with a four-year grace period is expected to be received within the next few days, the Belarussian Finance Ministry said in a statement.

Belarus has asked the International Monetary Fund for a financial package, in addition to a $3.5 billion standby loan Belarus received from the IMF in 2009-2010 in the aftermath of the global financial crisis. (Reporting by Alexander Winning, Ludmila Danilova and Andrei Makhovsky; Writing by Lidia Kelly and Polina Devitt; Editing by Ralph Boulton)

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