The Eurasian Development Bank (EDB) granted a US$20 million credit line to the JSC Development Bank of the Republic of Belarus (DBRB). Both institutions signed the agreement on November 25, 2016.
The funds are granted for the purposes of funding the international trade transactions of the DBRB’s customers in EDB’s member states (Republic of Armenia, Republic of Belarus, Republic of Kazakhstan , Kyrgyz Republic, Russian Federation and Republic of Tajikistan). Financing is granted in US dollars, Euro, Russian rubles or other currencies of the EDB’s member states.
During the signing, Ivan Varenitsa, Deputy Chairman of the Management Board of the DBRB said that the cooperation with international financial institutions is one of the top priorities of the DBRB’s activities. It allows the Bank to attract resources at very beneficial terms and therefore to offer its clients very attractive financial solutions. Besides, cooperation with international organizations confirms the status of the Development Bank as a key partner for implementation of large-scale joint initiatives in the Republic of Belarus, proves the compliance of the applied strategy with the best international standards. Credit facility granted by such reputable financial institution as EDB has become a really significant achievement for DBRB in this area, added Varenitsa.