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10 Oct 2017

EDB to allocate $10m to Alfa-Bank to support SMEs, enhance energy efficiency in Belarus

MINSK, 10 October (BelTA) – The Eurasian Development Bank (EDB) and Alfa-Bank have signed a loan agreement under the programs of small and medium-sized business promotion and energy efficiency enhancement in Belarus, BelTA learned from the EDB press service.

The document was signed by Managing Director for Assets and Liabilities of the Eurasian Development Bank Dmitry Ladikov-Roev and acting Chairman of the Board of Alfa-Bank Stanislav Parkhimovich.

In line with the agreement, the $10 million loan will be provided in several tranches. The selection of clients will be based on the criteria coordinated with the Eurasian Development Bank.

“We praise cooperation with Alfa-Bank in Belarus and believe that this project will promote the development of the real economic sector, enhance its energy efficiency, improve the employment and tax payments,” noted Dmitry Ladikov-Roev.

In November 2016 the Eurasian Development Bank opened a $10 million credit line for Alfa-Bank for trade financing purposes.

The Eurasian Development Bank (EDB) is an international financial organization. It was established by Russia and Kazakhstan in January 2016 with a view to contributing to the development of the market economies of the participating states, to their sustainable economic growth, and the expansion of mutual trade and economic ties. The EDB’s charter capital stands at $7 billion. The EDB member states are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan.

Alfa-Bank (Belarus) is a universal bank providing a wide range of banking operations. The bank has more than 30 offices in all the regions of the country. Alfa-Bank is in top ten Belarusian banks in bank assets, the loan portfolio, the clients’ deposits and the regulatory capital.

 

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