Belgazprombank, EBRD sign agreement on €30m syndicated loan

          Belgazprombank and the European Bank for Reconstruction and Development (EBRD) signed an agreement on the two-level syndicated loan in the aggregate amount of €30 million for the period of five years. The EBRD’s portion in the loan will make up €10 million and the remaining €20 million will be syndicated by other financial institutions, including the European Fund for Southeast Europe, one of the world’s biggest microfinance institutions. The money will be used to support micro-, small and medium-sized businesses in Belarus. Francis Delaey, EBRD Head of Office in Belarus, said at a solemn ceremony in Minsk: “We are glad about the progress in cooperation between the EBRD and Belgazprombank. I think that today’s agreement is a positive development for Belarus because the country has not conducted agreements on syndicated loans for a long time and this is a good signal for other market players”.
           “This is the first syndicated loan with a maturity of five years provided to a Belarusian company. Such a long maturity is unprecedented. Earlier, Belarus’ public borrowing had a maturity of only one year,” Deputy Chairman of Belgazprombank Sergei Shaban said.