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18 Jul 2018

Belarus’ Development Bank increases export lending by 80% in H1 2018

MINSK, 18 July (BelTA) – The volume of export loans granted by the Development Bank of the Republic of Belarus (DBRB) rose by 80% in H1 2018, the DBRB press service told BelTA.

Providing financial support to Belarusian export is one of the core functions of the Development Bank of the Republic of Belarus. In H1 2018 the bank lent a total of Br282.3 million in export loans, 1.8 times as against the volume granted in H1 2017.

In this period the Development Bank of the Republic of Belarus financed export operations of the Rechitsa-based hardware factory RMZ, the automobile components manufacturer BATE and other companies of the holding company Automotive Components, the agricultural machinery producer Bobruiskagromash, Minsk Electrotechnical Plant, the tractor manufacturer MTZ, the Belarusian steel mill BMZ, and various woodworking industry companies. The bank works to increase the export of Belarusian civil engineering services. The top export destinations receiving Belarusian products and services thanks to the DBRB’s financial support include Russia, Lithuania, and Poland.

The bank has been able to implement a scheme to finance non-resident companies, which buy Belarusian products from non-resident dealers of Belarusian companies. Agricultural machines and equipment were exported using the new scheme.

The Development Bank of the Republic of Belarus continues working hard to improve the legislative mechanisms designed to support Belarusian export.

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