MINSK, 31 May (BelTA) - Since the start of 2021 the Development Bank of the Republic of Belarus has issues export loans amounting to $230 million, Chairman of the Board of the bank Aleksandr Egorov said in an interview to the Belarus 1 TV channel, BelTA has learned.
“Today the total loan portfolio makes some $260 million. Since the start of the year we have signed 15 new deals to the total amount of about $50 million. There are deals that have been concluded earlier. Thus, on a gross basis, the bank has issued loans to the total tune of some $230 million. For comparison, it is a little less than half of what was issued in 2020 (about $580 million). I think that we will exceed the figure this year,” Aleksandr Egorov stated.
The chairman of the Board pointed out the significant investment projects for the bank. One of them is the support of the social sector and infrastructure. “There are plans to provide loans of about Br300 million. This is an important pool of projects related to the reconstruction of the railway bridge in Grodno, road and bridge construction in Mogilev, reconstruction of Gagarin Street in Vitebsk, construction of the oncology building of City Hospital No.3 in Grodno and a medical center in Brest. The second line is funding of government programs. About Br60 million will be injected into agricultural projects. The biggest one is the construction of a turkey breeding and processing complex in Dzerzhinsky agro-industrial complex in Kopyl District,” he said.
Aleksandr Egorov emphasized that there are projects that the bank selects for financing independently. “We have a private project in Cherikov District. A solar power plant is being built there. It is a private investor and the amount of investment is over $100 million. We believe that there will be both economic and social benefits for the region. The fourth direction is also self-selected projects where the Development Bank will act not only as a financial consultant but also as an expert. In particular, the construction of a new building of MAZ bus production is under discussion. In this case we are not only looking at how we can finance the project. We basically analyze how to make this plant: whether it should be built on a new or on an old site, what equipment to buy. This is being done as part of a pilot project in accordance with the government's 2025 Action Program. A project office must be set up under the Development Bank, which will implement such large deals,” he explained.
The chairman of the Board also added that in 2020 the Development Bank financed small and medium-sized enterprises for about Br240 million. “This year we have issued loans of almost Br150 million already,” he explained.
