OREANDA-NEWS. May 13, 2011. Belarusian President Alexander Lukashenko has offered farms a respite to repay bank loans they took to upgrade farm machines on lease terms starting January 1, 2013. The president signed ordinance #170 on April 22, 2011 to provide the respite.

In 2008, bank loans subject to the presidential decision reached 1.06 trillion rubles, and in 2009, 1.598 trillion rubles.

The loans will be repaid in equal tranches starting 2013. The loans extended in 2008 will be repaid by July 1, 2016, in 2009, by July 1, 2017, and in 2010, by July 1, 2018.

The document comes into effect as from the day it is signed.