EBRD opens new credit line for MTBank

         The European Bank for Reconstruction and Development (EBRD) opened the new $3 million credit line for MTBank for on-lending to small and medium-sized businesses.  “This is the next stage in the long-term fruitful cooperation between MTBank and the authoritative international financial institution. Thus, Belarusian companies will get access to foreign credit resources,” said MTBank. The funds will be earmarked for on-lending to small and medium-sized enterprises: trade, production, services, etc. According to Chairman of the Board of MTBank Andrei Zhishkevich, the new credit line is the recognition of MTBank’s achievements in the support of Belarusian business, which is the basis for the development of a market economy. MTBank joined the EBRD Small Business Support (SBS) program in 2006. Thanks to the agreements that have been signed over the years between the two financial institutions, credit support has been provided to thousands of Belarusian entrepreneurs. For example, in 2012, MTBank got an EBRD loan for energy efficiency projects, which are popular among business customers. The total amount of the credit lines provided to MTBank over this time has totaled $38 million.