Belarusbank and Polish Bank Gospodarstwa Krajowego have signed a framework agreement that stipulates granting loans for financing Belarusian – Polish projects. The document significantly simplifies credit procedures, facilitating the financing of Polish exports to Belarus.
The framework agreement was signed during the visit of Belarusbank's delegation headed by First Deputy Chairman of the Board Aliaksandr Paliuka and Executive Director Mikhail Kulichkou to Warsaw. The signing ceremony was attended by representatives of the Belarusian Embassy in Poland.
The document is expected to optimize the fundraising procedure and simplify loan contract negotiations, which will make the financial arrangement process much shorter.
The parties believe that the framework agreement will also satisfy the needs of Belarusian consumers who require financing for amounts ranging from several hundred thousand to several million euros and a loan repayment period of 2-5 years.
Currently Belarusian companies constitute the largest group of importers using Poland’s government export support program both in terms of the value of financing (over PLN 2.0 billion from the beginning of 2010) and the number of loans granted (nearly 1700 loans granted and nearly 700 financed or confirmed letters of credit).
Bank Gospodarstwa Krajowego is a Polish state-owned development bank, the core function of which is export support. The bank provides credit support to companies that belong to the spheres of automobile manufacturing and mechanical engineering, wind power industry and electric power industry, chemical industry, food industry, mining and machine-tool building and others.