EDB Opens $10M Credit Line for CJSC Alpha-Bank to Support SMEs and Improve Energy Efficiency in Belarus

10 October 2017

Almaty, October 10, 2017. The Eurasian Development Bank (EDB) and CJSC Alpha-Bank have signed a credit agreement to finance programs designed to support small and medium-sized businesses and improve energy efficiency in the Republic of Belarus. The following officers acted as the signatories: on the part of the EDB – Dmitry Ladikov-Royev, Managing Director, ALM; on the part of CJSC Alpha-Bank – Stanislav Parkhimovich, Acting Board Chairman.

Pursuant to the agreement, a $10 million credit is to be disbursed in several tranches. The tenor of each tranche is 3 years. Clients are to be selected in accordance with a set of criteria agreed with the EDB.

"We highly appreciate our cooperation with Alpha-Bank in the Republic of Belarus, and believe that this project will facilitate further development of the real sector of the economy, improve its energy efficiency, increase employment, and boost tax revenues," noted Dmitry Ladikov-Royev, EDB Managing Director.

"For Alpha-Bank, partnership with the Eurasian Development Bank is of strategic importance. The new credit agreement with the EDB is not just a mutually beneficial transaction, it also means that new foreign investment capital is to be injected into our national economy. Alpha-Bank, an active Belarus financial market player, is positive that this cash inflow will help Belarus companies obtain financing for their EDB-compliant projects on better terms," opined Irina Krasovskaya, Director, International and Trade Finance Department, CJSC Alpha-Bank.

By way of a reminder, in November 2016 the EDB opened for CJSC Alpha-Bank a $10 million trade finance credit line; the project is being successfully implemented.

Additional Information:

Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 to promote development of market economies of its member states, and secure their sustainable economic growth and expansion of their mutual trade and economic ties. The charter capital of the EDB is US$ 7 billion. 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.

CJSC Alpha-Bank (Belarus) is a universal bank offering the full range of banking operations through more than 30 branches in all regions of the country. Alpha-Bank is one of the top 10 Belarusian banks by asset value, credit portfolio, customer deposits, and regulatory capital (No. 8 by asset value and capital). In the corporate segment, the bank's key customers include the largest Belarusian enterprises operating in such sectors of the economy as oil processing and petrochemical industry, machine engineering, retail trade, mining industry, metallurgy, and power generation. The Bank is consistently expanding its customer base in the SME segment.

EDB Media Center:
+7 (727) 244 40 44, ext. 6147 (Almaty)
+7 (495) 645 04 45, доб. 2732 (Moscow)
e-mail: pressa@eabr.org

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