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Belarusbank signs Memorandum of Understanding with NEXI, Japanese Export and Investment Insurance Agency (press release)

08.12.2009

Belarusbank's representatives visited Tokyo, Japan, from 30 November to 2 December 2009 and took part in the Ceremony of signing the Memorandum of Understanding between Belarusbank and Nippon Export and Import Insurance (NEXI) on 1 December 2009. 

NEXI is a state-owned specialized insurance company which is a key participant in the system of state insurance for foreign trade transactions and investment projects. Among new largest projects in the post-Soviet countries insured by NEXI the most significant is the oil and gas project "Sakhalin-2" which held a new record of borrowings recieved within the project financing (USD1,4 billion).

The Memorandum was signed by Fumihiko Kato, NEXI's Vice-Chairman, and Vladimir Novik, Belarusbank's Member of the Board.

The signing ceremony was attended by Sergey Alejnik, Deputy Minister of Foreign Affairs of the Republic of Belarus, Kotaro Hara, Director of Trade Policy Bureau, Russia, Central Asia and Caucasus Office, Ministry of Ecomony, Trade and Industry of Japan and other official persons representing the Japanese and Belarusian parts.

The similar Memorandums of Understanding among CIS countries were signed by NEXI only with the State Corporation "The Bank of Development and Foreign Economic Activities (Vneshekonombank)" (Russia) and JSC "Ukreksimbank" (Ukraine) during business visits to Japan by Vladimir Putin, the Head of the Government of the Russian Federation, and Yuliya Timoshenko, the Head of the Government of the Ukraine.

Moreover, on November 18, 2009 a Memorandum of Understanding on cooperation was signed between NEXI and SINOSURE (China Export & Credit Insurance Corporation).

The Memorandum of Understanding between Belarusbank and NEXI, Nippon Export and Import Insurance (NEXI), will become the first step towards the establishment of the mutually beneficial cooperation between our countries and bring the Japanese business closer to projects in the Republic of Belarus.

Belarusbank emphasizes the importance of cooperation establishment with the largest international financial institutions, such as NEXI, which allows to provide the implementation of new projects on a mutually beneficial terms and conditions, increase the trade turnover, and to facilitate the development of Belarusian - Japanese relations.

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