The situation in the global economy and its impact on the financial sectors of Belarus and Russia were discussed by President of Belarus Alexander Lukashenko and head of Sberbank German Gref. The financial holding company is the largest investor in the Belarusian economy. The main topic of the talks was the development of relations with Sberbank and the transition to a new stage in the cooperation in the banking market of Belarus.
The doors for investors in Belarus are open as widely as possible, including foreign banks. The emergence in Belarus of representative offices of foreign financial institutions gives access to new capital markets. This means an infusion into the economy of additional resources, including loans with more favorable terms. Seven years ago, Sberbank bought out the shares of BPS-Bank and began to actively invest in the Belarusian economy. Direct investments during that period amounted to about five billion dollars. The arrival of such an important player is the best confirmation of the country's attractiveness for foreign capital. Now the head of Sberbank come up with new ideas and projects, which he is ready to finance.
Last September a modern plant for the processing of whey was opened in Shchuchyn. In the district center 130 new jobs have been created. The Business project was financed by BPS-Sberbank, allocating credit for 14 and a half million euros. The company is capable of producing more than 27 000 tonnes of finished products per year. Such a product has a very broad range of applications — from the food sector and the agricultural sector to the perfume industry and production of sports nutrition.
Not only production projects are supported by the Russian-Belarusian financial institution. Thus, BPS-Sberbank has sent about 100 million dollars to build the shopping mall Galleria Minsk in the center of Minsk. Authors of the project say that this complex will attract to Belarus the world's major clothing brands.
Last year, Sberbank Group sent about half a billion dollars to the Belarusian oil sector enterprises. About 61 million dollars was invested in the energy complex of the country. The bank plays an important role in the preferential crediting program for purchases of Belarusian equipment in Russia.
“The last two years we were engaged mainly in forming of reserves from net profit, but after today's resolution of all the issues that were on the agenda, we would be able to start a new stage of our development in the Republic of Belarus,” Gref said.
Its essence is to increase the efficiency of the bank, creating the so-called digital-technology of much more convenient services to customers in Belarus.
“We also discussed with the President a number of projects related to the plans of Sberbank on creation of a digital ecosystem and provision of services for businesses, especially small businesses, which interested the President of Belarus,” said German Gref.
Now it is the very time for investments in the Belarusian economy, according to the Russian banker. The time of economic shocks is far behind; the economy is expected to rise due to lower interest rates.
According to information resources