Russia’s Sberbank and Deutsche Bank will lend $2 billion to Belaruskali, The Moscow Times reports. The Belarusian potash miner will secure the loan by offering export contracts and a 35% stake in itself as collateral. Belaruskali sells a majority of its output through Belarusian Potash, its joint venture with Uralkali. Separately, Belarus is looking for up to $8 billion from the International Monetary Fund to patch up its balance of payments.
Click here for the story from The Moscow Times.
Click here for additional coverage from Reuters.