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Opinions & Interviews

14 Dec 2015

Fallico: Belarus’ financial system is transparent, fine-tuned

MOSCOW, 14 December (BelTA) – Belarus’ financial system is transparent and fine-tuned, Chairman of the Board of Directors at Banca Intesa Antonio Fallico said in Moscow on 14 December after the ceremony to sign an agreement on granting a €15 million loan to the Development Bank of the Republic of Belarus (DBRB), BelTA has learned.

“When Belarus gets a loan, it is always clear what the money is spent on. Most of the money is used to boost the country’s industrial potential and implement social programs,” Antonio Fallico said.

He emphasized that Belarus is a very reliable partner. Antonio Fallico noted that it is for Belarus to decide what to spend the money on. “We are absolutely sure that the money will be invested in the projects that are very much needed in Belarus,” he added.

Antonio Fallico specified that the DBRB has been granted a loan for two years at a market interest rate.

Banca Intesa is a subsidiary of the Italian banking group Intesa Sanpaolo which is one of the largest financial groups in Europe and is the leader in Italy in all business areas. Banca Intesa offers a wide range of banking services to businesses and individuals in 25 regions of Russia, from Kaliningrad to Vladivostok. Its key activities include corporate lending and lending to small and medium-sized enterprises.

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