August 18, 2011 / 12:00 PM / in 6 years

Belaruskali will not take $2 bln bank loan - RIA

MOSCOW, Aug 18 (Reuters) - Belarus potash miner Belaruskali will not take out a $2 billion loan from Germany’s Deutsche Bank (DBKGn.DE) and Russia’s Sberbank SBER03.MM, Russian news agency RIA Novosti cited its general director as saying.

Sberbank chief executive German Gref said last week that the two banks could deliver the loan if it were secured by export contracts and a 35 percent stake in the company. [ID:nLDE7740CC]

“Under the conditions offered by the Russian party I am sure that our government will not agree to accept the loan,” Valery Kirienko told journalists in the Belarus town of Soligorsk.

Belaruskali is wholly owned by the government of Belarus, which is facing a financial crisis.

Writing by John Bowker, Editing by Andrey Ostroukh

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