EDB takes part in a syndicated loan for Belinvestbank
Almaty, 24 June 2014. Eurasian Development Bank (EDB) signed an agreement to take part, as a mandated lead arranger, in a US $85 million syndicated loan for the Belinvestbank Belarusian Bank for Development and Reconstruction.
Novikombank (as initial mandated lead arranger), Alfa-Bank, Globex Bank, MDM Bank, Credit Bank of Moscow, Zenith Bank, and Baltikums Bank AS took part in the arrangement of syndicated finance in addition to EDB.
The funds provided by EDB will be used to finance export and import transactions between Belarus and Russia.
Belinvestbank is the sixth Belarusian bank to receive targeted finance from EDB. In terms of finance amount, the Belarusian financial sector ranks first among all the Bank’s member states in its bank lending portfolio.
The Bank has been working with Belarusian banks since 2010 and has, since then, financed export and import transactions and SME projects of their clients for a total of more than US $180 million.
Additional Information
The Belinvestbank Belarusian Bank for Development and Reconstruction was set up in 2001 as a result of the merger of Belbusinessbank and the Belarusian Bank for Development. It is authorised to service governmental programmes, accumulate public investment resources, implement governmental investment policies and service loan facilities of foreign investors. The bank has the status of an investment bank and finances investment and innovation programmes, including state initiatives. Its lending and investment activities are aimed at making investments in the most economically effective investment projects focused on export, import substitution, new and high technologies, and the improvement of competitiveness of products/services produced.
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 mutual trade and other economic ties in its member states. EDB’s charter capital exceeds US $1.5 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://www.eabr.org.