Lukashenko, Putin discuss interest rates on BelNPP loan

MINSK, 21 February (BelTA) – Interest rates on the BelNPP loan were discussed during a telephone conversation with Russia President Vladimir Putin, Belarus President Aleksandr Lukashenko said as he met with Governor of Russia's Arkhangelsk Oblast Igor Orlov on 21 February, BelTA informs.

“We discussed our loan agreements, obligations and credit activities involving Belarus, the Belarusian economy, interest rates, especially on the BelNPP loan, and other things in the package. In Sochi we agreed that we should accomplish these agreements as soon as possible to avoid complications,” the Belarusian leader said.

According to Aleksandr Lukashenko, Vladimir Putin and he arrived at a conclusion that the BelNPP will be the best nuclear power plant. “They will build this type of power plants all over the world, we will offer a helping hand when necessary,” he remarked.

As BelTA reported earlier, the presidents drew special attention to the BelNPP construction at the meeting in Sochi on 7 February 2020. All responsible parties were instructed to submit a final schedule of works for the first power generating unit.

“The governments are also supposed to hold negotiations to discuss terms of the loan on financing the nuclear power plant construction project. Taking into account the certain shift of the deadlines that has already happened,” First Vice Premier of Belarus Dmitry Krutoi told reporters earlier.

“An obvious decision needs to be made taking into account the slight delays of the deadlines. We would like to postpone the repayment of the loan. Besides, in order to avoid an additional burden we would also like to extend the period of time for us to pay off the loan and slightly reduce the interest rate, bringing it roughly into compliance with the contracts Rosatom has signed in other countries. The interest rate may be adjusted a bit. But it is too early to talk about final arrangements. Experts need to do a lot of work first,” he said.

The intergovernmental agreement on borrowing up to $10 billion from Russia to build the Belarusian nuclear power plant was signed on 25 November 2011. The money is supposed to cover 90% of the work specified by the general contract on building the nuclear power plant. The Belarusian side is supposed to pay the remaining 10%.

The Belarusian nuclear power plant is being built near Ostrovets, Grodno Oblast, using a Russian design featuring two VVER-1200 reactors with the total output capacity of 2,400MW.