Russia-led fund won't provide Belarus with $3.5 bln, Moscow may refinance some debt instead-Siluanov

Russia-led Eurasian Fund for Stabilization and Development (EFSD) has no capacity to issue Belarus with a requested $3.5 billion in loans, Russian finance minister Anton Siluanov said on Wednesday, but Moscow is ready to provide smaller support.

In December, Belarus requested $3.5 billion from the EFSD to refinance its debt in the absence of European funds, shut down after sanctions were put on Minsk amid its sweeping crackdowns on street protests in the last couple of years.

Russia would be ready to refinance $1 billion in debt which Belarus owes to Moscow and the EFSD this year instead, Siluanov said.

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