ANNOUNCEMENT 28 Dec 2016

According to an official press report of the Eurasian Development Bank (EDB) dated 28 December 2016, it has opened a loan facility for Belagroprombank. 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Eurasian Development Bank
Евразийский банк развития предоставил ОАО «Белагропромбанк» кредитную линию на 30 млн долл. на цели торгового финансирования
http://www.eabr.org/e/press_center/press-releases/index.php?id_4=49727

Inception date: 28 Dec 2016 | Removal date: open ended

Trade finance

Eurasian Development Bank (EDB) provided a US $30 million revolving loan facility for Belagroprombank. The maturity of the loan is five years. The agreement was signed on 28 December 2016.

The loan will be used "to finance foreign trade transactions of Belagroprombank’s clients in the EDB member states". The agreement stipulates that "100% of the funds will be used to finance export and import transactions between the member countries". 

The purpose of the agreement is "to promote the mutual trade and integration between the EDB member states".

Background:

Russia and Kazakhstan founded the Eurasian Development Bank (http://eabr.org/) in January 2006. The mission of this international organisation is to facilitate the economic development and the expansion of mutual trade and other economic ties in its member states. Currently, the member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan. EDB's charter capital totals US $ 7 billion. 

Joint-Stock Company Belagroprombank (http://www.belapb.by) is a state-owned Belarusian bank. It ranks second among country's banks in terms of assets, equity, loans and deposits. The bank is the Government Agent on servicing state agroindustrial programs. The bank has an extensive network of branches in Belarus and over 100 partners all over the world. 

 

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