Belarus seeks $500 million in assistance from EU

Belarus seeks to receive macroeconomic assistance package worth $500 million from the European Union. According to BelaPAN, Belarus in October submitted an assistance request to European Commission officials.

Experts familiar with the negotiations say the European Commission is ready to provide technical assistance to Belarus for structural reforms in the country's economy and to provide political backing for the accession of Belarus into the World Trade Organization.

European Union will reportedly consider the issue of macrofinancial assistance for Belarus taking into account the political factors, including the human rights record.

Microfinancial assistance from the European Union is provided on an individual country basis. It aims to support a country in the period of economic and structural reforms. Microfinancial assistance is only an addition to the credit program funded by the International Monetary Fund.