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EBRD to provide loan to MTBank to support SMEs in Belarus

Economy 19.06.2017 | 18:16

MINSK, 19 June (BelTA) – The European Bank for Reconstruction and Development (EBRD) will provide a €9 million loan to MTBank to support micro, small and medium-sized enterprises (SMEs), BelTA learned from the press service of MTBank.

“The European Bank for Reconstruction and Development will extend a €9 million loan to MTBank to support micro, small and medium-sized enterprises. The EBRD will also establish a new limit of $10 million within the framework of EBRD Trade Facilitation Program. The loan will be EBRD's largest investment in Belarus in 2017,” the press service noted.

The loan agreement will be inked by MTBank Chairman of the Board Andrei Zhishkevich and Head of the EBRD Office in Belarus Alexander Pivovarsky.

MTBank offers a range of services for corporate clients and individuals. The bank celebrated the 22nd anniversary of its founding in 2015. MTBank grants loans to corporate clients and individuals, cash and settlement services, foreign currency exchange services, and deposit services. It operates over 100 branches and offices across Belarus.

The European Bank for Reconstruction and Development was established in 1991. The EBRD invests in projects meant to foster transition to an open market economy and projects designed to develop private business and entrepreneurship. The EBRD is owned by 65 countries, as well as the European Union and the European Investment Bank. Since the start of its operations in Belarus in 1992, the EBRD has invested almost €1.8 billion in some 70 projects in various sectors of the country's economy.

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