Belarus loans debated by Myanmar’s junta-controlled parliament

Myanmar’s military-controlled parliament discussed on Tuesday whether to accept export loans offered by Belarus, a key ally of the country’s junta, at an interest rate of up to 9.33 percent. Than Than Lin, the regime’s deputy minister of finance and revenue, requested that the Pyidaungsu Hluttaw, or Union Parliament, approve the loans, which she said would come from two Belarusian state-owned banks—the Development Bank of the Republic of Belarus (DBRB) and Belinvestbank JSC. The loans can be acquired in Belarusian rubles, Russian rubles, or other currencies, including US dollars, Chinese yuan, and euros, she said, adding that the loan period ranges from one to five years, with a maximum grace period of one year. The total amount of the proposed loans, which can be taken out directly by junta ministries or through the Ministry of Finance and Revenue in the case of private loans, was not disclosed. Based on bilateral agreements and relevant bank terms as of September 2026, the calculated interest rate ranges from a minimum of 2.25 percent to a maximum of 9.33 percent, the deputy minister said. Under the agreements, the loans can only be used to purchase goods and technology manufactured in Belarus. Belarusian President Alexander Lukashenko has built close relations with Myanmar’s junta leader Min Aung Hlaing, who has travelled to Belarus several times since seizing power in February 2021. Lukashenko—regarded as Europe’s last dictator—has visited Naypyitaw at least twice following the coup. Both Belarus and Myanmar’s military junta have strong ties with Russia, which has also encouraged the regime to use its currency to engage in trade and investment between the two countries.

Belarus loans debated by Myanmar’s junta-controlled parliament

The proposed export loans from two Belarusian state-owned banks would carry interest rates of up to 9.33 percent

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