Austria’s VTB Bank AG agreed on Friday to provide Belagroprombank in Belarus with a $22.7 million loan to be used to finance foreign trade contracts.
Anatoly Lysyuk, the chairman of the Belagroprombank, and Deputy Chairman of the Board Sergei Chugai met in Vienna with VTB Bank (Austria) AG’s management team, Christian Mullner and Andrey Skvortsov, to sign the loan agreement.
“The conclusion of this agreement was preceded by many years of cooperation, solid contacts and efficient interaction in the field of foreign trade financing," a representative of Belagroprombank said. "VTB Bank (Austria) AG is a long-standing partner of Belagroprombank and the conclusion of this agreement is part of the consistent efforts to expand the cooperation.”
As part of the agreement, Belagroprombank's corporate clients will see more competitive services and banking products.
Belagroprombank is one of the biggest commercial banks in Belarus. VTB Bank (Austria) AG is a subsidiary of the European subgroup of the Moscow-based VTB bank.