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.
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