Belarus’ Development Bank considers pre-export financing
<p> MINSK, Jul 14 - PrimePress. The Development Bank of the Republic of Belarus OJSC is considering the introduction of pre-export financing, says DBRB Chairman Andrei Zhishkevich. </p> <p> </p> <p> “We are discussing with line departments the possibility of further expanding the range of potential transactions that can be financed. The most significant innovation would be a possibility of pre-export financing. The Development Bank could credit not only non-residents that buy Belarusian finished products, but also Belarusian exporters, who purchase raw materials, components, produce products and export them. This seems very appropriate today, especially in the time of crisis and objective problems in foreign markets,” Zhishkevich told Respublika newspaper. </p> <p> </p> <p> “For five years now, the Development Bank has been an exclusive channel for Belarusian exporters for this kind of financing, and, during this time, the legislative basis for this has been systematically updated. The most recent changes were made in April 2019, when it became possible to finance up to 100% of export contract amounts by means of loans against previous 85%. The next amendment implies a possibility of crediting insurance payments, which is also very important, because insurance of Beleximgarant, the national export insurer, is a mandatory condition for this type of lending,” Zhishkevich said. </p> <p> </p> <p> In 2019, the Development Bank issued export loans to a total of $400 million in equivalent, a 20% increase from 2018. </p> <p> </p> <p> The Development Bank of the Republic of Belarus was established in 2011 by presidential decree No.261 of June 21, 2011 to increase the efficiency of projects included in government programs, reduce the time of their implementation and cost recovery. It finances government programs on its own behalf and at its own expense on terms of urgency, payment and repayment. The state holds 96.224% in the bank’s statutory capital. End </p>
2020-07-15
Primepress
Belarus’ Development Bank considers pre-export financing
MINSK, Jul 14 - PrimePress. The Development Bank of the Republic of Belarus OJSC is considering the introduction of pre-export financing, says DBRB Chairman Andrei Zhishkevich.
“We are discussing with line departments the possibility of further expanding the range of potential transactions that can be financed. The most significant innovation would be a possibility of pre-export financing. The Development Bank could credit not only non-residents that buy Belarusian finished products, but also Belarusian exporters, who purchase raw materials, components, produce products and export them. This seems very appropriate today, especially in the time of crisis and objective problems in foreign markets,” Zhishkevich told Respublika newspaper.
“For five years now, the Development Bank has been an exclusive channel for Belarusian exporters for this kind of financing, and, during this time, the legislative basis for this has been systematically updated. The most recent changes were made in April 2019, when it became possible to finance up to 100% of export contract amounts by means of loans against previous 85%. The next amendment implies a possibility of crediting insurance payments, which is also very important, because insurance of Beleximgarant, the national export insurer, is a mandatory condition for this type of lending,” Zhishkevich said.
In 2019, the Development Bank issued export loans to a total of $400 million in equivalent, a 20% increase from 2018.
The Development Bank of the Republic of Belarus was established in 2011 by presidential decree No.261 of June 21, 2011 to increase the efficiency of projects included in government programs, reduce the time of their implementation and cost recovery. It finances government programs on its own behalf and at its own expense on terms of urgency, payment and repayment. The state holds 96.224% in the bank’s statutory capital. End