EDB provides a US $20 million loan facility to the Development Bank of the Republic of Belarus for trade finance
Almaty, 25 November 2016. - Eurasian Development Bank (EDB) provided a US $20 million revolving loan facility for the Development Bank of the Republic of Belarus for five years. The agreement was signed on 25 November 2016 by Dmitry Ladikov-Roev, Managing Director for Assets and Liabilities at EDB, and Ivan Varenitsa, Deputy Chairman of the Management Board at the Development Bank of the Republic of Belarus.
The loan will be used to finance foreign trade transactions of the Development Bank of the Republic of Belarus' clients in the EDB member states. The agreement envisions that 100% of the funds will be used to finance export and import transactions between the member countries. The loan may be extended in the US dollars, euros, Russian roubles or other currencies of the Bank's member states. The agreement will help to promote mutual trade and integration between the EDB member states.
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/
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