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14 June 2021, 18:44

Belarus' Development Bank to finance supply of Belarusian farm machines to Mongolia

MINSK, 14 June (BelTA) – In 2021, the Development Bank of the Republic of Belarus (DBRB) will issue a €4.5 million loan to finance the supply of Belarus tractors and agricultural equipment made by Minsk Tractor Works (MTZ trademark) to the Ministry of Food, Agriculture and Light Industry of Mongolia, BelTA learned from the bank.

This is the third individual credit facility extended within the framework of the Belarus-Mongolia intergovernmental agreement on export loan signed in April 2019. This agreement is aimed at expanding the geography of Belarusian exports and promoting foreign economic and trade ties between Belarusian and Mongolian enterprises.

Within the framework of the agreement, in 2019-2020 the Development Bank financed the supply of firefighting, rescue, and emergency response vehicles made by the Borisov-based firefighting equipment manufacturer Pozhsnab to the National Emergency Management Agency (NEMA) of Mongolia and the suppy of vehicles made by MAZ, managing company of the BelavtoMAZ holding company, to the Center for Road Transport Development at the Road and Transport Ministry of Mongolia.

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