New projects funded by loans
By Tatiana Kozlovskaya
The Chair of Belarusbank’s Board, Nadezhda Yermakova, explains, “The Belarusian economy is developing, with technical re-equipment and construction of new enterprises.” Over the past five years, the country’s largest financial establishment has taken part in over 100 projects dealing with production modernisation. In early 2011, its share of investment credits stood at 61 percent, with increasing volumes being allocated to industry, agriculture and construction.
Last year, Belarusbank concluded 79 credit agreements (worth $530m in equivalent) to finance Belarusian companies’ investment projects. The purchase of Swiss Stadler trains, the reconstruction of Minsk’s Oktyabrskaya Hotel and the second stage of construction of Minsk’s Victoria Hotel accounted for the lion’s share.