Almaty, 25 August 2011. The Eurasian Development Bank (EDB) together with BPS-Bank (Belarus) and Novikombank (Russia) provided a US $8 million syndicated loan to Belarusian Paritetbank. The respective documents were signed today in Minsk.
On the part of the EDB, the documents were signed by Dmitry Krasilnikov, Managing Director for Corporate Finance and Member of the EDB Executive Board.
The loan term is twelve months. The Belarusian bank will use the funds for the purposes of general development, including trade finance projects.
The EDB is convinced that the introduction and advancement of trade finance instruments and syndicated loans may have a significant effect on the development of the real and financial sectors in Belarus.
“This project can have a significant positive effect on the advancement of Belarus’ financial system, through the development of trade finance products and the attraction of syndicated loans from foreign and international financial institutions to the Belarusian economy,” said Dmitry Krasilnikov. “In addition, this project can foster the expansion of Paritetbank’s banking operations, including corporate loans, and of its customer base. This will also promote the development of the country’s real sector.”
“The receipt of this syndicated loan, in new market conditions, opens to our bank a new level of cooperation with foreign and international institutions and proves that the bank has gained certain trust as a stable financial institution,” said Sergey Pankovets, Chairman of Paritetbank’s Executive Board.
Additional Information
The Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth and the expansion of trade and other economic ties in its member states. The EDB’s charter capital exceeds US $1.5 billion. The member states of the Bank are the Russian Federation, the Republic of Kazakhstan, the Republic of Belarus, the Republic of Tajikistan, and the Republic of Armenia.
Read more at https://www.eabr.org.
Paritetbank was founded in 1991. Its main shareholder is the National Bank of the Republic of Belarus with a share of 98%. The bank specialises in banking services for small and medium-sized businesses and individual clients.
Novikombank is one of the top 100 largest Russian banks. Its assets exceed 73 billion roubles and corporate loan portfolio exceeds 35 billion roubles. Novikombank’s clients include Russia’s leading mechanical engineering, automotive industry and high-tech enterprises. AvtoVAZ owns 20% of the bank’s charter capital.
BPS-Bank was founded in 1923. It is one of Belarus’ oldest and largest banks and one of the leaders of trade finance in its market. Its main shareholder is Sberbank of Russia.
