MINSK, 10 August (BelTA) – The Development Bank of the Republic of Belarus (DBRB) poured considerable funds into financial support for Belarusian export, BelTA has learned.
According to the DBRB website, in H1 2021 the bank continued supporting Belarusian export by providing export loans. In January-June the bank's export loan portfolio totaled Br755.7 million or the equivalent of $298.5 million, up by Br365.1 million (95% up) or by $135.8 million (84% up) from H1 2020.
In H1 2021 the Development Bank provided a gross total of Br858.4 million in export loans or the equivalent of $333.7 million, up by Br428.3 million (100% up) or by $146.5 million (78% up).
The loans were used to facilitate the export of rolled metal products (30%), automobiles, tractors, and parts (15.4%), agricultural machines (9.5%), construction and installation services (6.2%), paints and varnishes (5.1%), and other products.
The new exports the DBRB loans facilitated included trolleybus assembly kits, thrashing machine and cutting machine assembly kits, clothes, and antiseptic wipes. Apart from that, in H1 2021 the Development Bank continued financing the export of agricultural machines, tractors, rolled metal products, and construction services.
As part of cooperation with the Eastern and Southern African Trade and Development Bank (TDB) the Development Bank financed shipments of Belarusian vehicles and machines to Zimbabwe, including tractors, Lidagroprommash seeders, Gomselmash harvesters, MAZ trucks, Pozhsnab firefighting vehicles, Motovelo motorcycles, and spare parts.
Work is in progress on similar projects for providing loans to facilitate Belarusian exports to Tanzania, Kenya, Zambia, Burkina Faso and other African countries.
In H1 2021 DBRB's loans went to Russia (51.5% of the total), Lithuania (24.7%), Kazakhstan (6.7%), Ukraine (5.1%), Poland (4.4%), Mongolia (2.2%), Kenya (1.8%), Austria (1.3%), Serbia (1.1%), Italy (0.8%), and Uzbekistan (0.4%).
The Development Bank continues working hard to increase and diversify the export loan portfolio with new products and new target markets, including countries of Western Europe, Latin America, and Africa. The current volume of potential export loan projects is close to the equivalent of Br450 million.
