In recognition of his part in addressing vulnerabilities during the post-pandemic period, MR. ALEXANDER EGOROV, Chairman of the Board of JSC, Development Bank of the Republic of Belarus, received the 2022 ADFIAP DISTINGUISHED PERSON Award last October 26, 2022, at the Conrad Hotel Manila during the ADFIAP’s Sustainable Development Awards 2022, the sidelight of the 45th ADFIAP Annual Meetings.
Being one of the youngest managers in the Belarusian banking system – 35 years old when appointed – Mr. Egorov has been given exceptional trust by the Government of Belarus, as the Prime Minister of Belarus highlighted during the appointment ceremony. His first steps in the new role came during the period of post-pandemic challenges which every sector of the Belarusian economy has had to address under the volatile external conditions. To respond to the unprecedented vulnerabilities the Bank under Mr. Egorov’s lead promptly and dynamically adjusted the product line for two of his three business pillars: the pre-export financing program was launched allowing exporters to facilitate the performance of export contracts; the Bank has developed a new “Export Support” product for SMEs which are already engaged in export-oriented activities to increase the export potential of the country. As both products offered financing in the national currency, their expansion allowed for further de-dollarization of the national financial system.
The 15 months under Mr. Egorov’s leadership were exceptionally intense for the Bank from the point of the transformation and passed under the banner of the broader change. Such a comprehensive trust given to the Bank by its stakeholders – to transform the broad macroeconomic and institutional environment in the country – was partially driven by the general reliability of the Bank and its successful performance, but the exclusive authority to change the only development institution in the country has been given to the particular manager, who hardly wasted any minute of his office, being an example of hard-working, critical-thinking, yet compassionate and inspiring visionary.