ANNOUNCEMENT 28 Jun 2016

In June 2016, the government of Belarus announced a change in private-sector financial support.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 28 Jun 2016 | Removal date: open ended

Loan guarantee

On 28 June 2016 the Council of the Republic of Belarus (according to Decree No. 504) issued a state guarantee to cover the due principal (11 818 200 EUR) and interest payments related to a loan that Belarusbank issued to "Zavod gazetnoy bumagi".
 
The maturity date of the loan is 31 December 2019. The due interest rate is fixed at not more than 11% per annum. The maturity date of the state guarantee is not disclosed.
 
"Zavod gazetnoy bumagi" was established with Decree No. 363 of the President of the Republic of Belarus of 10 August 2005. Among the main products it manufactures are:
 

  • Frame-panel houses;
  • Houses from laminated timber;
  • Bath houses;
  • Summerhouses;
  • Mouldings;
  • Glued laminated timber;
  • Sawn timber;
  • Industrial wastes;
  • Pellets.

 
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.