OREANDA-NEWS. June 28, 2011. Belarus on Tuesday received the first USD 800 million tranche of the EurAsEC Bailout Fund loan, a source in the administration of the country stated.

“The money has been transferred to the special account of the Finance Ministry in the National Bank of Belarus,” he said.

The Council of the Fund on June 3 approved a USD 3 billion loan to be extended within three years for a ten-year term in six tranches.

The second and following tranches, USD 440 million each, will be transferred as Belarus proceeds with its action plan to stabilize the balance of payments and increase competitiveness of the economy. The program includes arrangements to reduce lending from new money issues, enhance budget discipline and replenish reserves to an economically sound level.