Russia wires first part of $2 billion loan to Belarus

Belarus has received the first part of the $2 billion loan provided by Russia. The first part is worth $450 million, a spokesman for the Belarusian National Bank said on Saturday, RIA Novosti reports.

Russian President Vladimir Putin said at a meeting of the Supreme State Council of the Russia-Belarus Union State in December that Moscow would provide Minsk with up to $2 billion in loans in 2014.

Later Russian Finance Minister Anton Siluanov said the funds would be provided from the Russian 2014 budget in the form of an intergovernmental loan for 10 years at 4-percent annual interest.