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19 May 2023, 15:28

Loan agreement with Nicaragua expected to strengthen position of Belarusian exporters

MINSK, 19 May (BelTA) – The framework loan agreement between Belarus and Nicaragua will strengthen the position of Belarusian exporters in Latin America, BelTA learned from the press service of the Industry Ministry.

The framework loan agreement between the government of the Republic of Belarus and the government of the Republic of Nicaragua was signed at the Ministry of Foreign Affairs of Belarus. From the Belarusian side, the document was penned by Deputy Industry Minister Aleksandr Yefimov.

The general agreement spells out the specifics of using export loans to supply Belarus' products to Nicaragua. The agreement is in line with Decree No. 534 as of 25 August 2006 “On promotion of the export of goods (works, services)”.

The buyers of Belarusian equipment will be the Ministry of Transport and Infrastructure of Nicaragua, the Institute for the Regulation of Transport in the Managua Municipality, the Nicaraguan Institute for Municipal Development.

Export loans will be provided by the Development Bank of the Republic of Belarus.

Export lending of Belarusian supplies to Nicaragua will help Belarusian exporters secure the foothold on the Nicaraguan market, as well as other markets of Latin America.

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