The EDB arranges a syndicated loan for Belinvestbank
Moscow, 23 October 2018. The Eurasian Development Bank (EDB) became an arranger, credit manager and participant in a syndicated loan for Belinvestbank (Belarus). The one-year loan totals EUR 20 million. The other participants in the loan are NOVIKOMBANK (Russia), TRANSCAPITALBANK (Russia), and Altyn Bank (a subsidiary of China CITIC Bank Corporation Limited, Kazakhstan). The respective agreement was signed today.
The loan is provided for general corporate purposes. In particular, the funds will be used to finance trade contracts of Belinvestbank’s clients relating to the supply of goods, equipment and services from Russia to Belarus.
“This is the first syndicated loan arranged by the Eurasian Development Bank. And, of course, it is of great importance to us that we have provided an “umbrella” for banks from Belarus, Kazakhstan, and Russia. It is also important that the funds will be used to finance the movement of goods and services between the EDB countries,” Dmitry Ladikov-Roev, Managing Director for Assets and Liabilities at the EDB, comments.
“Raising a syndicated loan has become another step to diversify the resource base of Belinvestbank. In addition, the further development of cooperation with international financial institutions will help to attract additional resources to the economy of Belarus, including for the purposes of advancing small and medium-sized enterprises in our country – a segment, which should develop into one of the drivers of future economic growth,” Andrey Brishtelev, Chairman of the Board at Belinvestbank, adds.
Additional Information:
The 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. The 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.
The EDB Media Centre:
Alexander Savelyev +7 (985) 765 23 59 (Moscow)
Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)
Sergey Gorbachev +7 (916) 727 22 00 (Moscow)