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21 Jul 2020

Belarus’ Development Bank gets mandate to select commercial projects for financing

Belarus’ Development Bank gets mandate to select commercial projects for financing
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MINSK, 21 July (BelTA) – The Development Bank of Belarus got mandate to select commercial investment projects for financing in line with Council of Ministers’ Resolution No.414 of 10 July 2020, BelTA learned from the press service of the bank.

Previously, the bank worked mainly with projects included in state programs or approved by the head of state or government.

With its own search for projects, the Development Bank does not enter into competition with commercial banks. For financing the bank selects commercial investment projects that meet one of the criteria: the amount of capital costs including VAT on the project is at least Br40 million or the dynamic payback period of the project is at least 7 years. The amount of financing by the Development Bank for such projects is at least 85% of the amount of investment costs including VAT. The loan is granted for up to 15 years (but not more than the dynamic payback period of the project).

The Development Bank is ready to offer a number of products in national and foreign currencies, not only at the expense of its own sources, but also by means of attracting related foreign loans, both with and without insurance coverage of export credit agencies (depending on the period of attracting foreign credit lines).

Detailed information on financing selected investment projects is available on the website of the Development Bank.

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