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Belarusian bank gets loans worth 22 million euros from European banks

European partners have provided the Belarusian bank with loans. Leading banks from Germany, Switzerland, Italy, Hungary and Albania have issued loans for Belarus which total amount is more than 20 million euros.

This is the first syndicated loan Belarus has attracted in eight years. The 22 million euros will go to one of Belarusian banks.

The feature of this type of loan is that it is provided by several financial companies and in different proportions.

Belarusian bankers have called the deal a step towards a debt market that might be promising for Belarus. Credit resources will be directed to the development of agricultural enterprises.

Valery Polkhovsky, financial analyst:
What is important is the fact that, in principle, we have completed this whole procedure and that banks who would be interested in this cooperation have been found. And these parties have recognized the Belarusian bank worthy and they trust it and believe it can fulfill its credit obligations. 

Belarusian bank gets loans worth 22 million euros from European banks