In a landmark transaction, EBRD client Belgazprombank has been granted an $820,000 loan from EBRD to boost micro, small and medium business lending.
The transaction includes the longest maturity for a Belarusian loan syndication since 2010.
The EBRD will provide an A loan of $270,000. The remaining $550,000 B loan will be provided by the European Fund for Southeast Europe (EFSE). Both loans have a five-year maturity.
The EFSE works to unite private and public sources of financing in order to fund micro and small enterprises.
Since the start of the global financial crisis, the syndicated loan market for Belarusian borrowers has been subdued, limiting the market to the accessing of short-term funds by state-owned banks.
Three Belarusian state-owned banks tapped the market for international syndicated loans in the beginning of 2010, with maturities of no longer than one year.
The transaction will grant BGPB access to the syndicated loan market and will also allow Belgazprombank to diversify its funding base while also lengthening its balance sheet's maturity profile.
- Baltic International Bank launches investment packages
- Bank St. Petersburg hosts event for 10-year anniversary of its IPO
- European Investment Bank, ABN Amro sign agreement to support green shipping options
- AccessBank names new chairman of management board
- European Union environmental leaders aim to cut food waste in half by 2030
- ARMBUSINESSBANK hosts high-school students for lessons about banking
- Decreased inflation will lead to economic recovery, EDB report says
- Rosbank named global outperformer, market outperformer in finance magazine
- National Bank of Ukraine cuts key policy rate in effort to boost the economy
- Photo exhibition of flowers on display at UKRSIBBANK BNP bank