Commentary to Executive Order No. 36рп of 9 March 2017

    Belarus President Aleksandr 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 2011-2018.

    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.