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29 Mar 2019

Minister: Raiffeisen Bank can become one of biggest lenders for Belarusian economy

Minister: Raiffeisen Bank can become one of biggest lenders for Belarusian economy
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MINSK, 29 March (BelTA) – Austria’s Raiffeisen Bank might become one of the biggest lenders for the Belarusian economy, Belarus’ Finance Minister Maksim Yermolovich told reporters on 29 March, BelTA has learned.

Maksim Yermolovich views cooperation in the financial sector as exemplary. He noted that Priorbank has long been operating in Belarus. Priorbank’s major shareholder is Austria’s Raiffeisen Bank.

“Raiffeisen is showing interest in increasing trade finance operations and expanding investment, in particular when it comes to financing investment projects in Belarus. They are eyeing most ambitious investment projects. I believe that if there is demand on the part of potential borrowers, Raiffeisen can turn into one of the biggest lenders for our economy,” the minister said.

In his words, the Austrian bank and Belarus have been cooperating in eurobonds floating. “They acted as one of the facilitators of our placement. We are very satisfied with this collaboration,” Maksim Yermolovich said.

Austria has long been among the biggest investors in the Belarusian economy. In 2018 Belarus raised nearly $300 million of Austrian investment. The biggest investors include Kronospan (woodworking), Kapsch (BelToll electronic toll collection system), Raiffeisen Bank, A1 Telekom Austria Group (telecommunications and energy), Vienna Insurance Group (insurance services).


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