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Kiriyenko: Public interest will dominate in the decision on Belaruskali loan

MINSK, 24 August (BelTA) - The decision to refinance Belaruskali $1-billion syndicated loan will take into account public interests first, BelTA learnt from Belaruskali Director General Valery Kiriyenko.

The loan was issued by Sberbank of Russia and the Eurasian Development Bank in late 2011. According to Valery Kiriyenko, Belaruskali informed Sberbank of Russia on its intention to repay the loan ahead of time. “A decision on early payment has been taken as the loan agreement envisages an increase of interest rates at the end of the first six months. The agreement provides for such a possibility,” he noted. According to Valery Kiriyenko, the necessary amount will be gathered and transferred to the bank by 20 September 2012.

“The issue to refinance the loan is high on the agenda. The relevant decision will take into account the Public interests of the state,” Valery Kiriyenko added.

According to the previous reports, Belarus has been offered support in refinancing the loan from the Sberbank Group and the Russian VTB Bank.