Belarus to cooperate tighter with Vnesheconombank

Belarus to cooperate tighter with Vnesheconombank

The President of Belarus guarantees the support for Vnesheconombank in Belarus. On December 9, Alexander Lukashenko met with the chairman of the financial structure Sergei Gorkov. The corporation is actively investing in various companies.

In 2016 alone, it granted loans worth more than $230 million.

It is also engaged in exports and is responsible for a number of social projects. As a result of one of such projects in Belarus, 14,000 apartments may be supplied with additional electricity.

Gennady Kuprash, chief engineer of Grodno CHP 2:
We will be able to increase the reliability and efficiency of the equipment; also, we will greatly improve the working conditions of our operational staff.

This all is in accordance with the Belarusian state program of energy development until 2020. Funding for this project is carried out with the help of foreign loans.

It is the Russian Vnesheconombank that helps Belarus in this.

Alexander Lukashenko, President of Belarus:
I want to tell you once again, publicly, that you can always count on support from me, from the government and first of all from the National Bank. But only if you treat us and our businesses, individuals, legal entities, equally as you do with those of Russia.

For you, Belarus should be like Russia. Treat us equally.

With regard to the banking system of Belarus, it is probably a little different from the situation in Russia and the system, but it is only superficially. Frankly, I completely shifted the responsibility for the operation of the entire system (not just the first and the second level - the whole system) on the National Bank head. I gave him all the powers, especially because we have a well-controlled system. Appointments, no matter to which bank, can be put into live only after consent from the National Bank, and through it - from the President.

I will never allow that we have indecent relations with a bank.

There are decent criteria for assessment of banks. If a bank complies with them, we cannot ban it from coming to Belarus. We decided to support any banks that comply with the criteria and our interests, public or private, it is not important. Therefore, if any bank, including VEB, meets these criteria, you are welcome, you will always find my protection, if needed.

You can be calm and confident in the security of your enterprise on the territory of Belarus.

Vnesheconombank's partners are such Belarusian giants as MTZ, MAZ, Belshina, BMZ.

One of the major joint projects of the bank has recently been participation in the reconstruction of the Mozyr refinery.

Also, the bank finances the construction of the Belarusian NPP. In 2011, the parties entered into an agreement to provide an export credit of up to $10 billion for the nuclear power plant project.

Sergei Gorkov, Chairman of the State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank):
We have been cooperating for 9 years, more than $1 billion of investment overall. We have major projects like the nuclear power plant, in which we fund a large enough part.

Belarus and the Russian bank signed a memorandum on the establishment of an integration platform.

This form of cooperation will bring together the efforts of Belarus and Russia in the promotion of joint projects,

It will also help Belarusian producers to enter the markets of third countries.

The project office has already been established.

Nikolai Luzgin, Chairman of the Board of Belvnesheconombank:
The list of objects, of course, will still be formed. We are already requesting data from our, Russian, agencies, for those companies that are involved in the integration between Belarus and Russia the most. And then we will work with them in this direction.

Very soon, the bankers will sign a memorandum with another Belarusian machine building giant BelAZ.

This is another company known throughout the world. Their modern 450-ton truck twice entered the Book of Records. The plans include financing of supplies of high-tech products and raw materials from Russia.

The Bank participates in a variety of social projects too. Jazz evenings at the Town Hall gather hundreds of people in open air. The International Christmas Opera Forum is also funded by the bank.

All joint projects confirm one thing: such cooperation in the banking sector is a good example of how Belarus and Russia can and should work.