Banking stability influences economic stability

Prospects for co-operative development between Belarus and Russia’s Sberbank discussed at meeting between Alexander Lukashenko and Sberbank Chairman German Gref

Mr. Lukashenko thanked Mr. Gref for the assistance provided by Sberbank of Russia and BPS-Bank JSC (its subsidiary in Belarus) to the real sector of the economy. “You’re providing support to our real sector of the economy and leading enterprises in acquiring imported goods. This is of great importance,” noted the President. “I appreciate this greatly and am delighted that we’ve connected the fate of this bank with Sberbank of Russia, gaining corresponding support.” Mr.

Lukashenko proposed discussing existing problems, saying, “I’m aware that you won’t keep silent, prompting us with what you see from outside, telling us what we should do in this situation. It’s essential.”

In his turn, Mr. Gref said that, since early this year, Sberbank of Russia has allocated around $480m as additional liquidity to support BPS-Bank. “This has helped maintain the stability of our bank. I believe we’ve also helped many Belarusian enterprises in power engineering, industry and agriculture during this period,” he noted.

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