Protocol with new Belarusian nuclear power plant loan terms fully ratified in Russia

MOSCOW, 28 September (BelTA) – Russia has ratified the protocol on amending the Belarusian-Russian intergovernmental agreement on granting a state export loan to the Belarusian government for building a nuclear power plant of 25 November 2011. The relevant bill has been passed by both chambers of the Russian parliament and has been signed by President of Russia Vladimir Putin into law. The law has been published by the Russian official legal information registry, BelTA has learned.

The protocol was signed in early March 2023 after the deadline for commissioning the Belarusian nuclear power plant was shifted. The protocol extends the period of usage of the nuclear power plant construction loan by one year till the end of 2023 and reschedules the date when the repayment of the principal debt on the loan is supposed to begin from 1 April 2023 to 1 April 2024. Apart from that, taking into account the existing financial restrictions on transferring monetary resources in U.S. dollars and euros to Russia, the sides agreed that Belarus will make payments on the loan only in Russian rubles.

The Belarusian side has already ratified the protocol. The protocol has already been in use since March 2023 on provisional basis because it was necessary to promptly continue funding the project.