ANNOUNCEMENT 02 Sep 2013In September 2013, the government of Belarus announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
With Decree 779 of 2 September 2013, the Council of Ministers of Belarus approved the issuance in 2013 of a state guarantee in order to cover a credit facility of the Eurasian Development Bank (EDB). In this case the conditions for the issuance of the state guarantee are accorded before 2 September 2013, but its maturity date is not publicly available. The beneficiary of the of EDB's loan is OJSC 'Byelorussian Steel Works', the management company of 'Byelorussian Metallurgical Company' holding. The main products that the export-orientated holding structure manufactures are: steel, rolled products, steel cord, steel wire, hose wire, bead wire and seamless pipes. The parameters of the credit deal are established in Council of Ministers' Decree 583 of 4 July 2013 as follows: state guarantee at the amount of EUR 141 million for a 10-year investment loan involving construction works.