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Belarus To Offer Refinery Stake For $1B Loan

Belarus is planning to offer a 51 percent stake in its Naftan refinery as collateral for a $1 billion loan from Russia’s Sberbank.

    Belarus is planning to offer a 51 percent stake in its Naftan refinery as collateral for a $1 billion loan from Russia’sSberbank,Reutersreports. Last month, the Soviet republic refused to provide a stake in its potash minerBelaruskalias collateral for a $2 billion loan from Sberbank.

    A Russian-led regional fund has promised Belarus it will lend $3 billion over the next three years. The country is seeking external loans to fund its current account deficit, at 14.7 percent of GDP this year.

    Click here for the story fromReuters.

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