Belarus Development Bank’s export credit portfolio grows 75% in 2020 to Br1.433bn
<p> MINSK, Feb 5 - PrimePress. The Development Bank of the Republic of Belarus says it has increased its new export credit portfolio by 75% year on year in 2020 in gross terms to Br1.433 billion ($543.54 million at the exchange rate of the National Bank of Belarus). </p> <p> </p> <p> The bank’s total export credit portfolio increased almost three times year on year in 2020 and amounted to Br894 million ($339.1 million, $1/Br2.6364). </p> <p> </p> <p> The number of export credit agreements concluded by the bank increased by 74% to 47 in 2020 compared to 2019, while their amount increased 2.47 times to Br732.5 million ($277.84 million). “Loan recipients under direct export credit agreements were non-resident companies purchasing, in particular, tractors, agricultural machinery, dump trucks and rolled metal products made in Belarus,” the statement said. </p> <p> </p> <p> In 2020 Belarus Development Bank issued export credits to the Trade and Development Bank (TDB, Africa) in the amount of $15.7 million to finance the supply of Belarusian trucks, agricultural and fire-fighting equipment and motorbikes to the African region. Basic loan agreements have been concluded with MKB Bank (Russian Federation), Kapitalbank (Uzbekistan) and Ukrgasbank (Ukraine). </p> <p> </p> <p> 47.7% of export credits issued by the Development Bank in 2020 account for rolled metal products, 9.2% for automotive equipment and components, 7.1% for automotive equipment and components, and 7% for agricultural machinery. </p> <p> </p> <p> In geographic terms, Russia accounts for 40.1% of export credits of Belarus Development Bank, </p> <p> Belarus - 25.1% (export credits for residents), Lithuania - 15.9%, Ukraine - 4%, Poland - 4% and Kazakhstan - 3.2%. Ukraine and the African region have become new markets under export loan agreements concluded in 2020. </p> <p> </p> <p> Belarus Development Bank was established in 2011 in accordance with presidential ordinance #261 of 21 June 2011. It finances state programs on its own behalf and at its own expense on conditions of maturity, interest payment and repayment. The purpose of establishing the Development Bank was to increase the efficiency of implementation of projects included in state programs, reduce the time of their implementation and cost recovery. The government's share in the bank's authorised capital is 96.224%. End </p>
2021-02-06
Primepress
Belarus Development Bank’s export credit portfolio grows 75% in 2020 to Br1.433bn
MINSK, Feb 5 - PrimePress. The Development Bank of the Republic of Belarus says it has increased its new export credit portfolio by 75% year on year in 2020 in gross terms to Br1.433 billion ($543.54 million at the exchange rate of the National Bank of Belarus).
The bank’s total export credit portfolio increased almost three times year on year in 2020 and amounted to Br894 million ($339.1 million, $1/Br2.6364).
The number of export credit agreements concluded by the bank increased by 74% to 47 in 2020 compared to 2019, while their amount increased 2.47 times to Br732.5 million ($277.84 million). “Loan recipients under direct export credit agreements were non-resident companies purchasing, in particular, tractors, agricultural machinery, dump trucks and rolled metal products made in Belarus,” the statement said.
In 2020 Belarus Development Bank issued export credits to the Trade and Development Bank (TDB, Africa) in the amount of $15.7 million to finance the supply of Belarusian trucks, agricultural and fire-fighting equipment and motorbikes to the African region. Basic loan agreements have been concluded with MKB Bank (Russian Federation), Kapitalbank (Uzbekistan) and Ukrgasbank (Ukraine).
47.7% of export credits issued by the Development Bank in 2020 account for rolled metal products, 9.2% for automotive equipment and components, 7.1% for automotive equipment and components, and 7% for agricultural machinery.
In geographic terms, Russia accounts for 40.1% of export credits of Belarus Development Bank,
Belarus - 25.1% (export credits for residents), Lithuania - 15.9%, Ukraine - 4%, Poland - 4% and Kazakhstan - 3.2%. Ukraine and the African region have become new markets under export loan agreements concluded in 2020.
Belarus Development Bank was established in 2011 in accordance with presidential ordinance #261 of 21 June 2011. It finances state programs on its own behalf and at its own expense on conditions of maturity, interest payment and repayment. The purpose of establishing the Development Bank was to increase the efficiency of implementation of projects included in state programs, reduce the time of their implementation and cost recovery. The government's share in the bank's authorised capital is 96.224%. End