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Tuesday, August 22, 2017

EBRD supports Belarus small businesses with new loan

The European Bank for Reconstruction and Development (EBRD) announced on Thursday that it has extended a loan worth up to $5 million to MTBank for small business loans in Belarus.

The loan to the privately owned MTBank, an important finance provider for Belarus small businesses, will allow MTBank to enhance its lending to Belarusian micro, small and medium-sized enterprises. The loan will be provided in local currency to help mitigate foreign exchange risks.

“We are delighted to sign this local currency facility with MTBank, one of our long-standing partner banks in Belarus,” Francis Delaey, the EBRD’s head of office in Belarus, said. “With this project we are not only providing loans with longer maturities to domestic small businesses but also promoting lending in local currency, which is another important objective for us in Belarus.”

As of Sept. 1, the EBRD has committed more than $1.8 billion to Belarus across 66 projects.

Organizations in this story

European Bank for Reconstruction and Development One Exchange Square London EC2A 2JN United Kingdom

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