Commentary to Executive Order No. 36рп of 9 March 2017
Belarus President Alexander Lukashenko signed Executive
Order No. 36рп concerning the financing of the second runway at Minsk National
Airport on 9 March.
The document was
prepared in accordance with Decree No. 223 of 2 June 2011 regarding the
construction of the second artificial runway at Minsk National Airport in
The executive order envisages
the use of the loans of the Development Bank of the Republic of Belarus in the
foreign currency (U.S. dollars or euros) or in Belarusian rubles in the amount
of up to $255 million in equivalent by Minsk National Airport for the financing
of the construction of the second runway and auxiliary facilities. These loans
will be redeemed in monthly payments in the period from 1 July 2019 till 31
December 2026 with the interest rate of up to 7.05% per annum from the national
budget, the state non-budget fund of civil aviation and the non-budget
centralized investment fund of the Transport Ministry.
It is essential to
implement the construction project because the capacity of the existing runway
at Minsk National Airport will be exhausted by 2019. This may lead to the
termination of flights at the airport.