MINSK, 6 February (BelTA) – The Development Bank of the Republic of Belarus (DBRB) increased the number of export loans by 24% to reach Br818.5 million in 2019, BelTA learned from the bank.
“The Development Bank keeps its support of Belarusian exports at a high level. Gross-basis export loans made up Br818.5 million in 2019, up 24% year-on-year. Some 27 direct export loan agreements were concluded to the total tune of Br297.8 million,” said the bank.
Loans were provided to non-resident companies purchasing MTZ tractors, Bobruiskagromash agricultural machinery, BelAZ haulers, BMZ metal products, Sary-Arka products and many others. The bank considerably expanded loans to export Belarusian construction services. Thus, the bank supported the construction of schools and kindergartens in Kaluga Oblast of Russia.
Mongolia and Kazakhstan became new markets for the bank's export loan contracts. Promagroleasing received an export loan to deliver machine sets for Gomselmash harvesters to Kazakhstan. An export loan was allocated to help Ministry of Finance of Mongolia purchase Belarusian fire-fighting equipment. The bank also extended support to promote Belarusian exports to Poland, Lithuania, Singapore and Russia.
With a view to promote Belarusian exports to new markets, a framework loan agreement was concluded with Banque Ouest Africaine de Developpement (West African Development Bank) to open a credit line to finance deliveries of Belarusian products to West African countries. The bank also signed its debut individual loan agreements with Trade and Development Bank and Afreximbank to finance supplies of products of MAZ, MTZ, Gomselmash, Bobruiskagromash and Lidagroprommash. Framework loan agreements were concluded with the Eurasian Development Bank, Bank Saint Petersburg (Russia), Uzbekistan's banks Asaka and Uzpromstroybank to improve the export support infrastructure.
In 2019, the bank reduced the minimum amount of export loan from $1 million to $200,000. The bank believes that this will allow to create equal conditions for enterprises with different scale of activity, including small and medium-sized businesses, to receive export loans with state support.
In 2020, the Development Bank will continue its efforts to increase and diversify its export loan portfolio, both in terms of financed export products and new export markets, including those in Western Europe, Latin America and Africa.
Along with financial instruments, the Development Bank will develop non-financial export support instruments, which will include both educational and consulting services to all participants in the export chain.
