Russia grants USD 2 billion loan to Belarus

Moscow: President Vladimir Putin says that Russia will provide its ex-Soviet neighbor and ally Belarus with USD 2 billion in loans next year.

Putin made the statement following today`s talks with his Belarusian counterpart, Alexander Lukashenko. Lukashenko, who has been dubbed "Europe`s last dictator" in the West, has led the 10-million nation with an iron hand for nearly two decades, tolerating no dissent. He has kept most assets in state hands and relies on subsidies from Russia to shore up the economy. Russia and Belarus have had close economic, political and military ties. Russia has several military facilities in Belarus, and the two nations operate a joint air defense system. After Putin-Lukashenko talks today, officials from both countries also signed agreements on military-technical cooperation and information security.