MINSK, 1 October (BelTA) – The Eurasian Development Bank and the Development Bank of the Republic of Belarus have signed a cooperation agreement aimed at supporting Belarus' exports, BelTA has learned from the website of the Eurasian Development Bank.
The agreement is designed to raise financing on special terms to purchase goods, works and services of Belarusian resident companies as part of the plan to expand trade and economic cooperation between the Eurasian Economic Union member states. The Development Bank of Belarus will extend individual loans to the Eurasian Development Bank that will be used to finance the member states' importers in four currencies – Russian and Belarusian rubles, euro, and U.S. dollars.
“Taking into consideration that the Eurasian Development Bank is an international financial institution, this agreement will allow the Development Bank of Belarus to support domestic exports to the member states of our bank and promote economic growth and integration in Eurasia,” Dmitry Ladikov-Roev, Managing Director for Assets and Liabilities at the Eurasian Development Bank, said. According to him, export support is a key economic priority for the EAEU member states.
The Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The Eurasian Development Bank's charter capital totals US $7 billion. The member states of the bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.
The Development Bank of the Republic of Belarus is a specialized financial institution established in accordance with Decree No. 261 of the President of Belarus dated 21 June 2011. The bank's founders are the Council of Ministers and the National Bank of the Republic of Belarus. Its main objective is to develop a system of financing of governmental programs and implement investment projects of social importance.
