Belarus clearly states its intention to increase international trade and commercial cooperation between East/West, as the Belarus development bank prepares to open for business in London.
The representation of the Development Bank of Belarus in London begins to operate in full mode by the end of the third quarter of the year 2015. This was discussed at the meeting of the Board of the enlarged Development Bank, reported the Bank press service.
As the press service noted, this year the Development Bank continued to strengthen its position in the international capital market. So, in may, attracted the second syndicated loan in the amount of 118 million euros. “This transaction Development Bank asked the basic trend for foreign investors to cooperate with Belarusian banks throughout the next year. An important step in this process is to open a representative office in London. It is expected that by the end of the third quarter it will start functioning in full mode, “the press service said.
At the meeting, it was also noted that in the first half of the year the economy grew by funding 12% as at 1 July exceeded Br28 trillion. For the financing of investment projects within the framework of realization of State programs and activities the Bank sent over Br3 trillion.
The greatest amount of credit funds in the first half made for the construction of MKAD-2 (more Br1 trillion), the reconstruction of the highway r-23 Minsk-Mikashevichy (Br130 billion), construction (reconstruction) of objects of engineering and transport infrastructure to enter residential buildings (more BR 500 billion), financing of the activities of the agro-industrial complex (almost Br700 billion) purchase of machinery and equipment of industrial organizations for subsequent leasing firms (BR 300 billion).
On the program of financial support for small and medium-sized businesses on July 1 226 funded investment projects worth Br1, 5 trillion. The amount of credit support was almost Br350 billion. The Bank is also engaged in support of exports — since the beginning of the year, export credits have been issued for an amount equivalent to Br1, 7 trillion.
Within the limit of the bond issue established by Council of Ministers resolution and the National Bank, the Development Bank issued bonds in the amount of Br1, 64 trillion. In April, the National Bank decided to give securities Development Bank the status of “liquid assets”.
At the meeting, it was also noted that in the first half of the year, the Bank has ensured compliance with all established standards of safe operation.
Further development Bank will actively participate in the management of acquired assets from commercial banks Finance associated with the modernization of State enterprises 9. The total amount of these assets will be up to the Belarusian ruble against trillion. rubles.
JSC “Development Bank of the Republic of Belarus» is a specialized financial institution, its founders are the Council of Ministers and the National Bank of Belarus. Among the main objectives of the Bank is to finance the long-term and capital-intensive investment projects within the framework of the implementation of State programs and activities.