MINSK, 26 February (BelTA) – The Development Bank of the Republic of Belarus (DBRB) issued 2.4 times more export loans in 2017 over 2016, BelTA learned from the press service of the Bank.
“In 2017 the Development Bank concluded 21 export loan agreements worth Br415.8 million, which represents a 2.4 times increase over the volume of loans issued last year. The geography of deliveries and the range of the products exported with the support of the Development Bank have expanded. The Development Bank has financed the supply of products to new markets such as Poland, Lithuania and Serbia,” the press service said.
The new types of goods sold in foreign markets with the help of export credit tools were metal products, loaders, excavators, rollers and harvesters, woodworking products.
“In 2017 efforts were invested in the active promotion of not only products manufactured by the domestic industry flagship companies but also the services of Belarusian construction companies. Using export credits, the Development Bank financed the construction of a school in Kaluga and an apartment house in Obninsk, Russia,” the bank said.
The Development Bank is Belarus' only financial institution that provides export loans to non-residents under the terms determined by Decree No.534 of 25 August 2006 to promote the export of goods (works, services). “Foreign customers of Belarusian enterprises can get a loan either within our country or through their banks that have a loan agreement with the Development Bank to pay for the products to the Belarusian supplier” the press service said.
In 2017, the Development Bank put forward an initiative to expand opportunities for providing export loans to non-residents for the purchase of Belarusian products from other non-residents who are dealers of the Belarusian enterprises. These changes improved the efficiency of the export promotion mechanism and helped increase the supply of Belarusian products to foreign markets, especially to the so-called distant-arc countries.
