The first part of Russian loan came in Belarus on December 31

Belarus will start repaying Russia’s $450-million loan on January 15, 2017.

Russia transferred a portion of its $450-million loan to Belarus as far back as December 31, 2013, quotes BelaPAN the press office of the National Bank of Belarus (NBB). 

Let us recall that after the meeting of Vladimir Putin with Aliaksandr Lukashenka in Moscow on December 25, the Russian President announced that Russia would lend up to $2 billion to Belarus in 2014. The following day the Russian government approved the issuance of the loan to Belarus and transferred the first tranche to the country before the end of the year. 

The loan carries an annual interest rate of four percent and is to be repaid within 10 years. Belarus will start repaying the loan on January 15, 2017. 

The disbursement of the loan portion, as well as the sale of government bonds denominated in the dollar contributed to a $192-million increase in Belarus' gold and foreign exchange reserves in December. 

The reserves fell by $1,444.1 million to $6,650.9 million in 2013. 

In June 2013, NBB head Nadzeia Ermakova expressed confidence that the nation’s gold and foreign exchange reserves would amount to between $8 billion and $8.3 billion at the end of the year.