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Eurasian Economic Community's Anti-crisis Fund wants Belarusian authorities to tighten lending to economy

The Eurasian Economic Community (EurAsEC)'s Anti-crisis Fund wants the Belarusian authorities to tighten lending to the economy, Nadzeya Yermakova, head of the National Bank of Belarus, told reporters in Minsk on Thursday.

In particular, she said, the Anti-crisis Fund demands that banks increase the amount of loans issued to businesses at a slower pace than it is required by Belarus' major economic development targets. "I think [the demand] is not quite well-founded. The parliament has approved a law [setting economic development targets], the president has signed it and now the Fund wants us to revise it. I think this is not quite correct," Ms. Yermakova said.

She noted that experts were working to settle the differences between Belarus and the Fund. "I believe the issue will be settled by the end of May," she said.

The Anti-crisis Fund has delayed the disbursement of the third, $440-million tranche of its $3-billion loan for Belarus.

The first, $800-million tranche of the loan was made available to Belarus in June 2011. Another portion, $440 million, was provided in late December.

Belarus was scheduled to receive the third tranche before February 28, but the Fund believes that the Belarusian authorities have not fulfilled some of the loan's terms. //BelaPAN