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MINSK, 3 March (BelTA) – The Belarusian government has extended until the end of 2026 the use of export financing mechanisms stipulated by Council of Ministers' Resolution No. 58 as of 24 January 2023, BelTA reports citing the National Legal Internet Portal.
The new document provides for amendments to Resolution No. 58 “On the terms of export financing” as of 24 January 2023.
The terms of export financing are defined by Presidential Decree No. 534 “On promoting the export of goods (works, services)” as of 25 August 2006. The resolution defines the terms of export support for 2023-2026. The Development Bank and banks provide export loans to resident companies (except for leasing organizations) to manufacture and sell goods featured in the specified government list.
The amount of a loan cannot exceed the amount of an export contract (for short-term export loans) and 85% of an export contract (for long-term export loans).
Export loans are provided in Russian and Belarusian rubles. The interest rate should be at least 2/3 of the key rate of the Central Bank of the Russian Federation and the refinancing rate of the National Bank of Belarus.
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