EDB provides a US $30 million loan facility to Belagroprombank for trade finance
Almaty, 28 December 2016. Eurasian Development Bank (EDB) provided a US $30 million revolving loan facility for Belagroprombank for five years. The agreement was signed on 28 December 2016 by Dmitry Ladikov-Roev, Managing Director for Assets and Liabilities at EDB, and Sergei Chuhai, Deputy Chairman of the Management Board at Belagroprombank.
The loan will be used to finance foreign trade transactions of Belagroprombank’s 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 is expected 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.
Belagroprombank is one of Belarus’ largest state-owned banks, with historically high positions in banking, ranking second among Belarus’ banks in terms of assets, equity, loans and deposits. The bank has an extensive network of branches in Belarus. In 2015, The Banker ranked it 787th among the world’s top 1,000 banks and 18th among CEE largest 25 banks . Belagroprombank has over 100 partners in financing foreign trade all over the world. Its customer base comprises around 2 million retail and some 50,000 corporate clients.
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