Export Financing Program under Presidential decree of the Republic of Belarus №466
According to Presidential decree of the Republic of Belarus “On some measures to promote goods made in the Republic of Belarus” No.466 dd 24.09.2009, the Government of the Republic of Belarus performs subsidizing of interest rates on loans/leasing agreements provided by foreign banks (concluded by leasing companies) for purchase of goods produced in Belarus, and compensations for post financing of letters of credit provided by foreign banks.
Resolution of the Council of Ministers of the Republic of Belarus No.72 dd 04.02.2015 “On measures to promote goods made in the Republic of Belarus” established a procedure for cooperation in case part of interest on the loans, compensations for post financing of letters of credit are repaid to foreign banks and part of lease payments are repaid to leasing companies – non-residents of the Republic of Belarus.
- compensation by the Government of the Republic of Belarus for part of the amount of interest for using the loan in the amount of no more than 2/3 of the refinancing rate established in the state in whose territory goods produced in the Republic of Belarus are purchased;
- compensation by the Government of the Republic of Belarus for part of the amount of interest for using the loan in the amount of no more than 3/4 of the key rate of the Central Bank of Russia, valid on the date specified in the concluded agreements, for the purchase of goods produced by OJSC MTW and OJSC Gomselmash for their subsequent sale in the Russian Federation in 2024 - 2026;
- the possibility of transferring compensation for part of the amount of interest for using a loan in a currency other than the national one;
- post-financing under letters of credit provided by a non-resident bank of the Republic of Belarus;
- leasing of goods produced in the Republic of Belarus by a non-resident of the Republic of Belarus;
- reliable suppliers of machinery and equipment.
Belarusbank is an authorized agent bank for working with foreign banks and non-resident leasing companies.
Foreign banks, foreign leasing companies entitled for a compensation, and Belarusian manufacturers that produce technical devices falling within the scope of the subsidy program are listed in Resolution No.72.
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Compensation of interest to non-resident banks |
not exceeding 2/3 of the official bank rate (if none exists, the rate replacing it) established in the state in whose territory goods produced in the Republic of Belarus are purchased, in effect on the date specified in the concluded agreements |
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Compensation of leasing payments |
part of the investment of the leasing company – non-resident of the Republic of Belarus calculated based on 2/3 of the official bank rate in force in the state were goods produced in the Republic of Belarus are submitted to the leaseholder as of the date specified in concluded agreements |
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for goods produced in the Republic of Belarus by open joint-stock companies "Minsk Tractor Works" and "Gomselmash" for their subsequent sale in the Russian Federation in 2024 - 2026 |
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Compensation of interest to non-resident banks |
not exceeding 3/4 of the Key Rate of the Bank of Russia in force on the date specified in the concluded agreements |
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Compensation of leasing payments |
a non-resident of the Republic of Belarus, calculated based on 3/4 of the Key Rate of the Bank of the Russia in force on the date specified in the concluded agreements |
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Compensation currency |
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in case of compensation of interest on loans utilized by borrowers and banks from third countries, compensations for post financing of letters of credit |
in Russian rubles - 2/3 of the Key Rate of the Bank of the Russia in force on the date specified in the concluded agreements;
also in other currencies in agreement with the Ministry of Industry of the Republic of Belarus. |
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in case of compensation of lease payments under finance lease (leasing) agreements made with leaseholders from third countries |
in Russian rubles - part of the investment of a leasing company - a non-resident of the Republic of Belarus, calculated on the basis of 2/3 of the Key Rate of the Bank of the Russia in effect on the date specified in the concluded agreements;
also in other currencies in agreement with the Ministry of Industry of the Republic of Belarus. |
The financing model and payment mechanism are illustrated below:
CONTACTS
Regarding the implementation of Decree №466:
Ministry of Industry of the Republic of Belarus
Tel.: +375 (17) 230 36 94, 223 72 27
International Business Department
Tel.: +375 (17) 309 07 12, 309 00 89
Fax: +375 (17) 358 37 82, 395 37 56
