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9 Oct 2018

Belarus’ government provides loan guarantees to Khalifa Fund

Belarus’ government provides loan guarantees to Khalifa Fund

MINSK, 9 October (BelTA) – The Belarusian government has provided guarantees to the Khalifa Fund for Enterprise Development (UAE) for its loan issued to the Development Bank of the Republic of Belarus, interest and other payments related to the use of the loan. The decision is laid down in Council of Ministers’ Resolution No.724 of 5 October 2018 that was officially published on the national legal internet portal, BelTA has learned.

The matter pertains to $25 million loan to expand access to finance for micro, small and medium-sized companies in Belarus.

According to the document, the government guarantee will be available after the Finance Ministry and the Development Bank sign an agreement defining the terms of disbursement and repayment of the guaranteed loan and after the Development Bank transfers payment for the provision of government guarantees to the national budget.

The document comes into force from the date of its adoption.

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