Belagroprombank raised another credit line from European Investment Bank to support small and medium-sized businesses in the Republic of Belarus

During the visit of Government delegation headed by Prime Minister of the Republic of Belarus Sergei Roumas to Eastern Partnership Investment Summit of the European Bank of Reconstruction and Development, held at the EBRD’s Headquarters in London, on 22 November 2019 a signing ceremony of the second loan agreement between JSC “Belagroprombank” and European Investment Bank (EIB) took place.

A new €20 million loan agreement for a term of 6 years was signed by the Deputy Chairman of the Board of Belagroprombank Siarhei Chuhai and Vice-President of EIB Lilyana Pavlova.

New credit resources of European Investment Bank are to be a further step towards fulfilling of a key area of Belagroprombank’s long-term strategy for supporting and development of small and medium-sized businesses in the Republic of Belarus.

The implementation of this project became possible due to successful teamwork of the bank and EIB within the frame of the first loan agreement signed in November 2018. EIB credit resources in total amount of €50 million were received by Belagroprombank in February 2019 and for a short period were fully utilized to support around 150 small and medium-size business projects. The Bank fully complies with its obligations that make it possible to negotiate with international lenders on realization of new joint projects.

A high confidence of the European partners through a core bank of the European Union that has been providing the bank the second year running with a loan on favorable terms, demonstrates the impeccable reputation of Belagroprombank at the international arena, exceptional payment discipline and professionalism of the bank's team capable of implementing the most ambitious projects with foreign partners of any scale.

Belagroprombank thanks the team of the European Investment Bank as well as all the participants in this project and congratulates on its successful implementation.

Background information. The European Investment Bank is the European Union’s state financial institution that provides long-term financing, technical knowledge and experience for implementation of viable and capable of living projects not only in Europe, but outside its borders. The bank is owned by the 28 European Union member states. According to international financial institutions, the EIB is the world’s largest multilateral borrower and lender. The bank is headquartered in Luxemburg, and its network includes more than 40 local branch offices.