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Belarusbank and Russian Vnesheconombank sign an agreement to finance purchase of carriages for Minsk Metro (press-release)

11.06.2014

Belarusbank offers its clients new favorable terms of attracting long-term finance to supply goods of Russian origin. This is evidenced by the debut credit agreement with the Russian State Corporation "Bank of Development and Foreign Economic Activity (Vnesheconombank)". The transaction amounts to USD 12.5 mln. The funds will be used to purchase additional 15 metro carriages for Minsk Metro from Metrovagonmash OJSC.

The agreement was signed during the solemn ceremony held on June 10, 2014 in the Head Office of Belarusbank.

image1

In the picture: the agreement is being signed by the Director of Export Finance of the Bank of Development and Foreign Economic Activity D.Agulian and Deputy Chairman of the Board of Belarusbank V.Novik.

During the negotiations the management of Belarusbank and the delegation of Russian VEB discussed prospects for further cooperation. In particular, they talked of opening limits for financing material and component supplies for Belarusian companies, first of all, for the engineering industry. Besides, if the products of such Belarusian manufacturers as BMZ (Belarusian Steel Works), MAZ (Minsk Automobile Plant), MTZ (Minsk Tractor Works), BelAZ, Gomselmash will contain more than 60% of Russian components, Vneshekonombank is ready to support exports of these products to international markets. VEB is also willing to provide soft loans for more than 10 years for the supply of Russian Super Jet planes to Belarus.

For reference: State Corporation "Bank of Development and Foreign Economic Activity (Vnesheconombank)" was founded on May 17, 2007. It aims at increasing competitiveness of the Russian economy, its diversification, and promotion of investments.

Vladimir Dmitriev is the Chairman of Vnesheconombank, while Chairman of the Russian Government Dmitry Medvedev is the Chairman of the Supervisory Board.

VEB provided 1 trillion Russian rubles of financing in 168 projects (total project amount: 2.4 trillion Russian rubles).

Belarusbank press service

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