IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Outflow (subsidised)

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 13 Mar 2013 | Removal date: open ended
Still in force

Trade finance

In March 2013, the Belarusian government allowed a second Russian bank to provide export financing for Belarusian machinery exports to Russia.
 
With Decree 176 of March 13, 2013, the Council of Ministers of Belarus included VTB Bank in a state financial scheme. The objective of this measure is the provision of loans at advantageous terms to buyers of Belarusian machinery on the territory of the Russian Federation. Since 2009 this Belarusian state support scheme was only made available through Sberbank Russia. The favourable credit terms are guaranteed on the basis of Decree  466 of September 24, 2009 through partial reimbursement of interest payments by the Belarusian Ministry of Finance.
 
An official press release of the Council of Ministers of Belarus explains that the goal of attracting a second bank (VTB Bank) in this state initiative is to promote the Belarusian goods on the Russian market and to increase the Belarusian exports.
 
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.
 
 
 

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

Please report this page in case you detect an inaccuracy in its content.