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Tuesday, March 28, 2017

Belarusbank to finance Swiss electric trains for Belarus Railways

Belarusbank said recently that it will finance the delivery of two more Swiss electric trains for Belarus Railways.

Bank Chairman Sergei Pisarik met in Zurich with top executives of a consortium of Swiss banks that included UBS, Credit Suisse and Zurcher Kantonalbank, BelTA reports.

The two sides signed a supplement to the previous credit agreement between Belarusbank and the consortium. The document provides for financing the additional delivery of two seven-car electric trains made by Stadler Bussnang to Belarusian Railways.

The credit agreement to finance the delivery of the first batch of interregional electric trains was signed about a year ago, and the first few trains have already been delivered to Belarus.

"It is a testimony of the bank's direct involvement in the accomplishment of national goals such as the modernization of the country's transport system," Pisarik said, according to BelTA. "The implementation of the project will also allow Belarusian Railways to enable a new level of passenger transportation service. [Belorussians] and tourists have already appreciated the comfort of Swiss commuter trains".

Pisarik said that there is mutual interest in continued cooperation.

"The signing of the agreement is an example of smooth professional teamwork on the part of all the sides," Pisarik said, BelTA reports. "As a positive precedent in the area of international business the deal will help bolster Belarusbank's position on Western financial markets and will foster the development and enhancement of mutually beneficial cooperation between the business circles of the two countries."