ANNOUNCEMENT 03 Jun 2013In June 2013, the government of Belarus announced a change in its trade finance instruments.
NUMBER OF INTERVENTIONS
"" . 3 2013 . 440, http://pravo.by/main.aspx?guid=3871&p0=C21300440&p1=1
With Decree 440 of June 3, 2013, the Council of Ministers of Belarus stipulated Belvnesheconombank to be compensated from the 2013-2015 state budget for the export credit line at the amount of USD 20 million it provided to 'Svetlogorsk pulp & board plant' at beneficial interest rates, based on Commercial Interest Reference Rate (CIRR). This is the minimum interest rates, which may be applied under the OECD arrangement on guidelines for officially supported export credits. Among the main products that 'Svetlogorsk pulp & board plant' manufactures are: transport packages from corrugated cardboard, boxes of corrugated board and paper bags.
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.