April 10, 2017 / 7:09 AM / 3 years ago

Belarus says Russia promises new loans of over $1 billion

Russian President Vladimir Putin greets Belarus' President Alexander Lukashenko during their meeting at Konstantin palace in St. Petersburg, Russia April 3, 2017. REUTERS/Dmitri Lovetsky/Pool

MINSK (Reuters) - Moscow has promised over $1 billion in loans for Belarus after last week’s talks between the leaders of two countries, Belarusian Deputy Prime Minister Vladimir Semashko told the local ONT TV station late on Sunday.

Moscow could also help Belarus tap into an additional $600 million from the Russia-led Eurasian Fund for Stabilization and Development, Semashko said.

Last week, at a meeting in St Petersburg between Russian President Vladimir Putin and Belarussian leader Alexander Lukashenko, Russia agreed to refinance Belarus’ debt while Belarus will pay back more than $720 million in arrears for gas supplies.

According to Russian Deputy Prime Minister Arkady Dvorkovich, Russia will also renew oil supplies to Belarus of 24 million tonnes a year and Russia’s Gazprom (GAZP.MM) will give Belarus discounts on gas supplies in 2018 and 2019.

Reporting by Andrei Makhovsky; Writing by Vladimir Soldtakin; Editing by Christian Lowe

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