Global Trade Alert

On March 30, 2013, the Council of Ministers of Belarus and the National Bank of Belarus (Joint Decree 239/3) decreased the processing time to issue export credits to Belarusian companies. In particular, the following changes are made:

• reduced processing time (from 7 to 5 days) for the Belarusian Ministry of Finance to assess the application documents for export loans of Belarusian companies;
• reduced processing time (from 7 to 5 days) for the responsible state bodies to decide whether to compensate a bank for export loans it extends to a Belarusian company;
• reduced processing time (from 14 to 10 days) for the responsible state insurance body to decide whether to provide state support for the insurance of export risks of Belarusian companies;
• reduced processing time (from 14 to 10 days) for the responsible government bodies to prepare a draft decree authorising the compensation of a bank for its issuance of export loans above USD 500,000;
• reduced processing time (from 14 to 10 days) for the government to review a draft decree authorising the compensation of a bankfor its issuance of export loans above USD 500,000.

 
The measure facilitates the issuance of export credits and insurance. The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.