The Eurasian Development Bank (EDB)--a Russian-Kazakh financial institution founded in 2006--signed an agreement on Tuesday to serve as a mandated lead arranger for an $85 million syndicated loan to Belinvest, the Belarusian Bank for Development and Reconstruction.
In addition to the EDB, Novikombank, AlfaBank, Globex Bank, MDM Bank, Credit Bank of Moscow, Zenith Bank and Baltikums Bank took part in arranging the loan.
The EDB's funds will be used to finance export-import trade between Belarus and Russia.
Belinvestbank was established in 2001 after the merger of Belbusinessbank and the Belarusian Bank for Development. Since the bank began working with Belarus in 2010, it has financed export and import transactions as well as projects for small-and medium-sized enterprises worth more than $180 million.
More Stories
- EUROPEAN INVESTMENT BANK: Bosnia and Herzegovina: EIB provides €340 million to advance works on northern part of Corridor Vc
- ABN AMRO SERVICES COMPANY: Fempower Your Growth: like tindering with female entrepreneurs
- EUROPEAN INVESTMENT BANK: Egypt: Team Europe - EIB and Banque Misr work together to support private businesses and speed up the recovery of SMEs from COVID-19
- ASIAN DEVELOPMENT BANK: ADB, NNS Sign Loans to Build Milestone Solar Power Project in Uzbekistan
- ASIAN DEVELOPMENT BANK: $123 Million ADB Loan to Help Build Elevated Walkways in Manila
- EUROPEAN INVESTMENT BANK: Germany: EIB provides €15 million of funding to IDnow
- ASIAN DEVELOPMENT BANK: CAREC Endorses Long-Term Strategy to Promote Safe, Sustainable, and Inclusive Tourism
- EUROPEAN INVESTMENT BANK: EIB Group provides €150 million to support artificial intelligence companies
- ASIAN DEVELOPMENT BANK: ADB Approves $430 Million to Help Rehabilitate Power Distribution Networks in Uttar Pradesh, India
- EUROPEAN INVESTMENT BANK: Greece: EIB backs EUR 470 million road safety scheme