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PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of April 18, 2006 No. 252

About approval of the Regulations on the external state loans and external loans attracted under guarantees of the Government of the Republic of Belarus

(as amended on 24-05-2018)

For the purpose of enhancement of procedure for attraction, use and repayment of the external state loans and external loans attracted under guarantees of the Government of the Republic of Belarus I decide:

1. Approve the enclosed Regulations on the external state loans and external loans attracted under guarantees of the Government of the Republic of Belarus.

2. Determine that external state loans (credits) attracted before entry into force of this Decree are used and settled according to the procedure for attraction, use and repayment of external state loans operating before entry into force of this Decree.

3. To Council of Ministers of the Republic of Belarus, National Bank, republican state bodies, regional executive committees and the Minsk Gorispolkom in 3-monthly time to bring the regulatory legal acts into accord with this Decree and to take other measures for its accomplishment.

4. This Decree becomes effective from the date of its signing.

President of the Republic of Belarus

A. Lukashenko

Approved by the Presidential decree of the Republic of Belarus of April 18, 2006 No. 252

Regulations on the external state loans and external loans attracted under guarantees of the Government of the Republic of Belarus

Chapter 1. General provisions

1. In this Provision the procedure for attraction, use, servicing and repayment of external state loans * (further - state loans) and the external loans attracted under guarantees of the Government of the Republic of Belarus (further - guaranteed loans), providing is determined:

attraction of state loans by the Republic of Belarus and the Government of the Republic of Belarus, including for provision to users of external loans;

attraction of guaranteed loans by residents of the Republic of Belarus (further - borrowers), including for provision to users of external loans;

issue of guarantees of the Government of the Republic of Belarus on the guaranteed loans attracted with borrowers;

attraction of state loans by the Republic of Belarus by issue in the foreign financial markets of government securities as the state debt obligations;

repayment of state loans and guaranteed loans, debt restructuring on them and execution of guarantees of the Government of the Republic of Belarus;

control of target use and timely repayment of state loans and guaranteed loans;

accounting of the external public debt and external debt guaranteed by the Republic of Belarus.

______________________________

* For the purposes of this provision terms are applied in the values determined in Article 2 of the Budget code of the Republic of Belarus.

2. State loans and guaranteed loans are attracted respectively within the limits of the external public debt and external debt guaranteed by the Republic of Belarus, established in the law on the republican budget for the next financial year from foreign states, their governments and administrative and territorial units on behalf of authorized bodies, the international organizations and other foreign legal entities (further - foreign creditors).

3. Conditions of attraction, use, servicing and repayment of state loans (except for 1 this provision specified in paragraph five of Item) and guaranteed loans are determined by the international treaty, the interbank agreement, the individual credit agreement or other document containing terms for crediting and (in need of) the obligation of the Government of the Republic of Belarus on these loans (further - the credit agreement).

Conditions of attraction, use, servicing and repayment of the state loans attracted according to the paragraph the fifth Item of 1 this provision are determined in the prospectus of the issue, agreements on rendering the legal services, services connected with issue, the address, repayment and servicing of government securities, accounting of the rights to them, services in the admission of securities to the biddings on the stock exchange and other documents (further - issued documents).

The credit agreement or issued documents can contain (if necessary) regulations on refusal of the Republic of Belarus of immunities on the disputes connected with attraction, use, repayment and servicing of state loans and guaranteed loans.

Chapter 2. Main objectives of borrowing and decision making about attraction of state loans and guaranteed loans

4. Attraction of state loans is performed:

4.1. Republic of Belarus:

for the purpose of covering of deficit of the republican budget;

for the purpose of provision to users of external loans for implementation of investment projects;

in other purposes provided by decisions of the President of the Republic of Belarus and (or) the laws;

4.2. The government of the Republic of Belarus, including for provision to users of external loans:

for the purpose of implementation of state programs and investment projects, solution of social and environmental problems, natural disaster response;

in other purposes provided by decisions of the President of the Republic of Belarus and (or) the laws.

5. Attraction of guaranteed loans is performed by borrowers, including for provision to users of external loans:

for the purpose of import of raw materials, energy resources, other necessary goods and products in case of emergency in providing the republic with them;

for the purpose of implementation of investment projects and state programs according to the priority directions of development of economy of the republic;

in other purposes provided by decisions of the President of the Republic of Belarus and (or) the laws.

6. Decisions on attraction of state loans are made:

6.1. President of the Republic of Belarus:

for realization of the purposes listed in subitem 4.1 of item 4 of this provision;

in other cases when according to the legislation of the decision on negotiation according to the draft of the credit agreement and (or) its signing be accepted by the President of the Republic of Belarus;

6.2. The government of the Republic of Belarus in coordination with the President of the Republic of Belarus - for realization of the purposes listed in subitem 4.2 of item 4 of this provision.

7. Decisions on attraction of guaranteed loans are made by the Government of the Republic of Belarus in coordination with the President of the Republic of Belarus in case of attraction of these loans by borrowers for realization of the purposes listed in Item 5 of this provision.

Chapter 3. Attraction of state loans by the Republic of Belarus and Government of the Republic of Belarus

8. Offers on attraction of state loans are made in accordance with the established procedure in Council of Ministers of the Republic of Belarus:

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