Russia to provide $2bn loan to Belarus in 2014

Russian President Vladimir Putin said Wednesday that Moscow is going to provide a loan of up to two billion US dollars to Belarus in 2014, ITAR-TASS News Agency reported. Putin made the remarks said after a meeting of the Russia-Belarus Union State’s Supreme State Council on Wednesday. “I would like to inform you that the government of Russia made the decision at today’s meeting to provide assistance to our Belarusian colleagues in connection with the latest developments in international markets and disburse an additional loan to the Republic of Belarus in 2014 in the amount of up to two billion US dollars,” Putin said. Belarusian President Alexander Lukashenko assured Putin that the loan “will not be eaten away.” Since 60-70 percent of raw materials and components used in Belarus come from Russia, the loan will indirectly benefit the Russian economy too, he said. “I can assure you that the support you have offered to Belarus today - by the way, it will be used to support the exchange rate, among other things - will not be eaten away, as people say. By so doing you support your own economy as well,” he said. The president thanked Putin for the loan. “The government of Russia and especially the president of Russia, who are very good at counting money, don’t do anything without good reason,” he added.