MINSK, 20 November (BelTA) - The Association of Belarusian Banks and the International Finance Corporation (IFC) will cooperate in the matter of setting up a guarantee fund, BelTA learned from the association.
The parties signed a protocol of intent which envisages cooperation in the development of financial market and related infrastructure in Belarus. The matter is about exploring the possibility of establishing a partial credit guarantee fund and increasing the number of collateralized transactions with real estate as collateral to improve access to financing for small and medium-sized entrepreneurship.
Cooperation will be developed as part of the IFC consulting assistance program meant to support entrepreneurship and economic development in the Republic of Belarus. Among other things, it provides for conducting surveys among banks to analyze various lending practices and defining the interest in such a tool as partial credit guarantee.
On behalf of the Association of Belarusian Banks, the document was signed by its President Alexander Kuchynsky and on behalf of the IFC by Practice Manager Rolf Berndt.
