Main
News and Events
News
EDB provides a US $10 million loan facility to Alfa Bank for trade finance

EDB provides a US $10 million loan facility to Alfa Bank for trade finance

14 December 2016

Almaty, 9 December 2016. Eurasian Development Bank (EDB) and Alfa Bank (Belarus) signed an agreement to finance foreign trade transactions of Alfa Bank's clients in the EDB member states. The document was signed on 14 December 2016 by Dmitry Ladikov-Roev, Managing Director for Assets and Liabilities at EDB, and Igor Katibnikov, Chairman of the Management Board at Alfa Bank.

EDB will provide Alfa Bank (Belarus) a US $10 million loan facility for three to twelve months. The agreement envisions that 100% of the funds will be used to finance export and import transactions between the member countries. Finance may be extended in the US dollars, euro, tenge and Russian roubles.

"The project will have a positive effect on the development of cooperation and partnerships between businesses in the Bank's member states. We also expect a high integration effect from increases in mutual trade," Dmitry Ladikov-Roev commented.

"Our new joint project with EDB evidences that the Belarusian Alfa Bank has been successfully developing cooperation with international financial institutions. We expect that this agreement will become a positive background for the establishment and promotion of partnerships between businesses in the EDB member states and will foster mutual trade," Alexei Zagarin, Deputy Chairman of the Management Board at Alfa Bank, added.

Additional Information:

Eurasian Development Bank (EDB) 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 mutual trade and other economic ties in its member states. EDB’s charter capital totals 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.

Read more at https://eabr.org/

Alfa Bank (Belarus) is a universal bank offering all types of banking services, with more than forty branches throughout the country. Alfa Bank is among the top ten Belarusian banks in terms of assets, loan portfolio, client accounts and statutory equity. The bank's key clients in the corporate sector are Belarus’ largest oil processing, petrochemical, mechanical engineering, retail, mining, metallurgical and power enterprises. The bank has been continuously expanding its clientele in the SME sector.

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