Sberbank of Russia, EDB to allocate $1bn loan to Belarus
2011-11-18 17:25:51
Sberbank of Russia and the Eurasian Development Bank (EDB) will allocate a $1 billion loan to Belarus, Chairman of the Board of the EDB Igor Finogenov told journalists in Minsk.
The loan agreement will be signed today in the government of Belarus.
The loan will be given for Belaruskali. “Our share in the loan will be $100 million,” said Igor Finogenov. The remaining funds will be allocated by Sberbank.
Igor Finogenov expressed confidence that the loan is extremely important for Belaruskali in the current economic situation. “The company generates the lion's share of export revenues. It must evolve,” he said, expressing confidence that the funds will help Belaruskali and the Belarusian economy during this difficult period.