Belarus Development Bank plans to open National Export Center in 2021 – Zhishkevich
<p> MINSK, Jan 25 - PrimePress. The Development Bank of the Republic of Belarus JSC plans to open a National Export Center in 2021 at the premises of a bank’s subsidiary to help Belarusian exporters approach new markets, says Chairman of the Development Bank Andrei Zhishkevich. </p> <p> </p> <p> “We are tasked to open a venue where an exporter could address to enter a new market, and check the creditworthiness and business reputation of a potential counterparty. This year, we plan to offer this kind of consultancy at the premises of the bank’s subsidiary,” Zhishkevich said on ONT TV channel. </p> <p> </p> <p> Speaking about financial support for exports, he said that Belarusian companies have access to export credits in euros at 0.5% per annum. </p> <p> </p> <p> Among the commercial investment-oriented projects in the real sector, Zhishkevich highlighted a new form of project financing under the state program to support agro-industry. </p> <p> </p> <p> “We have an innovation–a new form of financing–a selection of projects on a competitive basis for the construction of dairy farms. Eleven projects were selected. Their financing began in 2020 and continue in 2021. The Development Bank independently determines the selection criteria, analyzes creditworthiness and viability of submitted projects, while the state applies a new mechanism of state support, which is not soft lending. The loans to selected projects are already provided by the Development Bank based on the market behavior at the refinancing rate. This is, among other things, an element that replaces the previously applied directed lending, which required higher efficiency because of its concessionality and the selection criteria beyond competition considerations, as state support is to maximize the effects of this support,” said Zhishkevich. </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>
2021-01-26
Primepress
Belarus Development Bank plans to open National Export Center in 2021 – Zhishkevich
MINSK, Jan 25 - PrimePress. The Development Bank of the Republic of Belarus JSC plans to open a National Export Center in 2021 at the premises of a bank’s subsidiary to help Belarusian exporters approach new markets, says Chairman of the Development Bank Andrei Zhishkevich.
“We are tasked to open a venue where an exporter could address to enter a new market, and check the creditworthiness and business reputation of a potential counterparty. This year, we plan to offer this kind of consultancy at the premises of the bank’s subsidiary,” Zhishkevich said on ONT TV channel.
Speaking about financial support for exports, he said that Belarusian companies have access to export credits in euros at 0.5% per annum.
Among the commercial investment-oriented projects in the real sector, Zhishkevich highlighted a new form of project financing under the state program to support agro-industry.
“We have an innovation–a new form of financing–a selection of projects on a competitive basis for the construction of dairy farms. Eleven projects were selected. Their financing began in 2020 and continue in 2021. The Development Bank independently determines the selection criteria, analyzes creditworthiness and viability of submitted projects, while the state applies a new mechanism of state support, which is not soft lending. The loans to selected projects are already provided by the Development Bank based on the market behavior at the refinancing rate. This is, among other things, an element that replaces the previously applied directed lending, which required higher efficiency because of its concessionality and the selection criteria beyond competition considerations, as state support is to maximize the effects of this support,” said Zhishkevich.
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