OREANDA-NEWS. June 1, 2011. Belarus has agreed the terms of a three-year loan totaling USD 3-3.5 billion from the EurAsEC Bailout Fund, Prime Minister Mikhail Myasnikovich told reporters following a session of the Council of CIS Prime Ministers.

“We have agreed all terms, approaches and the sum. We have agreed with the Russian Federation that we will consider a USD 3 billion, maybe even a USD 3.5 billion loan via the EurAsEC Fund within three years,” he said.

The loan will be provided to Belarus at a rate below the commercial rate, he said.

He said agreements had been reached on Belarus’ economic strategy to make good use of the loan. According to him, the money will enable the country to deal with the accumulated problems fast and continue efforts to develop the economy.