The EDB to finance Belgazprombank to support SMEs and foreign trade projects
Minsk, 23 April 2019. The Eurasian Development Bank (EDB) and Belgazprombank signed a loan facility agreement aimed at supporting small and medium-sized enterprises, and a framework revolving loan facility agreement to finance foreign trade transactions of the bank’s clients.
“The EDB has been cooperating with Belgazprombank since 2011 and the new agreements continue our long journey of cooperation. The project will foster the development of the country’s banking. We also believe it is another step towards creating a single financial market among the EDB member states,” Dmitry Ladikov-Roev, Managing Director for Assets and Liabilities at the EDB, commented.
“The combined efforts by Belgazprombank, which aims to promote private business initiatives in Belarus as a priority, and the Eurasian Development Bank will produce a synergistic effect to deepen integration in Eurasia. The agreements signed with the leading international financial institution expand our capability to raise external funding for our strategic client segment – SMEs and businesses that engage in foreign trade,” Sergey Shaban, Deputy Chairman of the Board at Belgazprombank, emphasised.
In addition, Belgazprombank and the EDB signed an agreement on operations in financial markets that lays the foundation for the development of a new area of cooperation, treasury business.
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.
Belgazprombank, established in 1990, is controlled by the Gazprom Group and is among the leaders in lending to private businesses, in particular SMEs, in Belarus, as well as retail lending. As of 1 April 2019, Belgazprombank was the nation’s third largest bank in terms of assets and the largest private bank. Belgazprombank has been included by the National Bank of the Republic of Belarus in the list of banks of systemic importance (Group I).
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)