Belarusbank’s losses from loans to light industry cos to be compensated from state budget – resolution
<p> MINSK, Feb 17 - PrimePress. Belarusbank will receive compensation for losses on loans to the Orsha Flax Mill (Vitebsk Oblast), Baranovichi Cotton Production Association (Brest Oblast) and Kamvol OJSC (Minsk) from the state budget, as per government resolution No.84 of February 15, 2021 posted on the National Legal Internet Portal on February 17, 2021 </p> <p> </p> <p> Losses from the loan to Orsha Flax Mill given in 2010 for the construction of company housing will be compensated at the rate of the difference between the refinancing rate of the National Bank of Belarus increased by up to 3 percentage points of the margin and the rate on the loan of 5% per annum. Also, 100% of the rate on the loan from the China Export-Import Bank ($51.834 million) provided in 2015 to upgrade the Orsha Flax Mill will be compensated. </p> <p> </p> <p> Losses from the loans to Kamvol OJSC will be compensated 100% of the rate on loans issued in accordance with decree No.510 of November 14, 2013; Baranovichi Cotton Production Association – 50% of the rate on the loans issued in accordance with decree No.205 of April 25, 2012. </p> <p> </p> <p> The losses are compensated in Belarusian rubles at the official exchange rate of the National Bank in effect on the date of compensation. End </p>
2021-02-18
Primepress
Belarusbank’s losses from loans to light industry cos to be compensated from state budget – resolution
MINSK, Feb 17 - PrimePress. Belarusbank will receive compensation for losses on loans to the Orsha Flax Mill (Vitebsk Oblast), Baranovichi Cotton Production Association (Brest Oblast) and Kamvol OJSC (Minsk) from the state budget, as per government resolution No.84 of February 15, 2021 posted on the National Legal Internet Portal on February 17, 2021
Losses from the loan to Orsha Flax Mill given in 2010 for the construction of company housing will be compensated at the rate of the difference between the refinancing rate of the National Bank of Belarus increased by up to 3 percentage points of the margin and the rate on the loan of 5% per annum. Also, 100% of the rate on the loan from the China Export-Import Bank ($51.834 million) provided in 2015 to upgrade the Orsha Flax Mill will be compensated.
Losses from the loans to Kamvol OJSC will be compensated 100% of the rate on loans issued in accordance with decree No.510 of November 14, 2013; Baranovichi Cotton Production Association – 50% of the rate on the loans issued in accordance with decree No.205 of April 25, 2012.
The losses are compensated in Belarusian rubles at the official exchange rate of the National Bank in effect on the date of compensation. End