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Agreement between the Government of the Republic of Belarus and Government of the Azerbaijan Republic on provision to the Republic of Belarus of public credit

of June 23, 2010

The government of the Republic of Belarus and the Government of the Azerbaijan Republic which further are referred to as with the Parties agreed as follows:

Article 1

1. The government of the Azerbaijan Republic will grant to the Government of the Republic of Belarus public credit in the amount of 200 000 000 (two hundred million) US dollars for a period of 12 (twelve) calendar days without payment of interest payments.

Article 2

1. During one banking day from signature date of this agreement the Azerbaijani Side will transfer the amount in the amount of 200 000 000 (two hundred million) US dollars single payment into the currency account of the Ministry of Finance of the Republic of Belarus in National Bank of the Republic of Belarus according to the details specified in appendix 1 to this agreement.

2. The Belarusian Side settles outstanding amount in the amount of 200 000 000 (two hundred million) US dollars within 12 (twelve) calendar days from the date of transfer of funds for the account of the Ministry of Finance of the Republic of Belarus in National Bank of the Republic of Belarus.

3. Repayment of outstanding amount is made by single payment in the amount of 100% of outstanding amount according to the details specified in appendix 2 to this agreement.

Article 3

1. The payment which is not made in time, specified in Item 2 of Article 2 of this agreement is considered overdue payment.

2. On the amount of overdue payments penalty interests for each day of delay of payments at Libor rate for six-months deposits in US dollars plus margin 2 (two) annual interest rates at the rate of 365 days in year are charged.

3. Aggregate term on charge of penalty interests is reckoned from the date following the established payment date of debt and comes to an end with date of the actual debt repayment.

Article 4

1. Payments in debt repayment, charge and payment of penalty interests are made by the Belarusian Side in US dollars into the account of the Ministry of Finance of the Azerbaijan Republic in the Central bank of the Azerbaijan Republic according to appendix 2 to this agreement.

2. Date of accomplishment of payment receipt date of the amount into the account according to Item 1 of Article 4 of this agreement is considered.

3. If this or that payment under this agreement on terms matches with day which is not the working day in the territories of the states of the Parties, such payment is made in the next working day.

Article 5

Provisions of this agreement do not affect the rights and obligations of the Parties following from other international treaties which participants are their states.

Article 6

1. In case of disputes and disagreements in case of interpretation or application of provisions of this agreement of the Party will resolve them by negotiations.

2. If dispute settlement cannot be achieved according to the procedure, stipulated in Item 1 Articles 6, of the Party can appeal to the Arbitration Court of "ad hoc" established according to arbitral rules of the United Nations Commission on the international trade law (UNCITRAL).

Article 7

By mutual consent of the Parties changes and additions which are drawn up by separate protocols can be made to this agreement and are integral parts of this agreement.

Article 8

1. This agreement becomes effective from the date of its signing by the Parties.

2. The Belarusian Side and the Azerbaijani Side confirm that they have all necessary powers for the conclusion and execution of this agreement.

3. This agreement stops the action from the date of full implementation of the obligations by the Parties under this agreement.

It is made in Baku on June 23, 2010 in duplicate, everyone in Russian.

Appendix 1

to the Agreement between the Government of the Republic of Belarus and the Government of the Azerbaijan Republic on provision to the Republic of Belarus of public credit

Details of National Bank of the Republic of Belarus for transfer of funds in US dollars for current accounts of treasury of the Ministry of Finance of the Republic of Belarus:

+--------------------------------------------------------------------+
¦    Получатель:    ¦  Министерство финансов Республики Беларусь     ¦
+-------------------+------------------------------------------------¦
¦    УНП:           ¦  100691903                                     ¦
+-------------------+------------------------------------------------¦
¦    Счет:          ¦  3600900000031                                 ¦
+-------------------+------------------------------------------------¦
¦    Банк:          ¦  Национальный банк Республики Беларусь         ¦
+-------------------+------------------------------------------------¦
¦    Код банка:     ¦  153005042                                     ¦
+--------------------------------------------------------------------+

Correspondent accounts of National Bank of the Republic of Belarus:

+--------------------------------------------------------------------+
¦Наименование банка                ¦ Корреспондентский счет¦Код SWIFТ¦
+----------------------------------+-----------------------+---------¦
¦HSВС Ваnk USА, New York           ¦ 000303810             ¦MRMDUS33 ¦
+----------------------------------+-----------------------+---------¦
¦JР Могgаn Сhаsе Ваnk,New York     ¦ 001-1-909140          ¦СНАSUSЗЗ ¦
+----------------------------------+-----------------------+---------¦
¦Deutsche Ваnk Тrust Соmраnу       ¦ 04-400-132            ¦ВКТRUSЗЗ ¦
¦Аmericas, New York                ¦                       ¦         ¦
+--------------------------------------------------------------------+

Appendix 2

to the Agreement between the Government of the Republic of Belarus and the Government of the Azerbaijan Republic on provision to the Republic of Belarus of public credit

Details of the Central bank of the Azerbaijan Republic for transfer of funds in US dollars for current accounts of treasury of the Ministry of Finance of the Azerbaijan Republic:

+--------------------------------------------------------------------+
¦ Correspondent Bank      ¦FRNY US 33                                ¦
¦                         ¦Federal Reserve Bank NY                   ¦
+-------------------------+------------------------------------------¦
¦ Beneficiary Institution ¦NABZAZ 2 X                                ¦
¦                         ¦Central Bank of the Republic of Azerbaijan¦
¦                         ¦ABA 021088221             

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