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Belarusky Narodny Bank signed the next Loan Agreement with BlueOrchard
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30.06.2017

Belarusky Narodny Bank signed the next Loan Agreement with BlueOrchard

Belarusky Narodny Bank signed Loan Agreement with BlueOrchard Microfinance Fund managed by Swiss-based investment company BlueOrchard Finance Ltd.

Over a period of two and a half years this agreement between BNB-Bank and the funds managed by BlueOrchard Finance Ltd. was the sixth agreement concluded, and total amount received from the funds is equal to USD 17 million in equivalent, which is the largest investment of the Fund in the Republic of Belarus. In accordance with the terms and conditions of the agreement, the increased limit for EUR 3 million as all previous tranches is provided for the development of SME lending programs in Belarus.

Constantine Tsereteli, CEO of BNB-Bank: “SMEs support is a strategic objective of Belarusky Narodny Bank. Accordingly, we tirelessly look for different opportunities of raising financial resources to achieve the objective set for ourselves. Building strong business relations with various international financial institutions, as well as strengthening the already established reputation of the BNB-Bank among our western partners allow us raising long-term funds for the development of medium and small businesses in the country. It is pleasant to realize that the long-term and reliable partnership between BlueOrchard and BNB-Bank has given us the opportunity to increase the financing limit to 17 million US dollars in equivalent, for which we are very grateful to our partner”.

Normunds Mizis, Regional Manager/Eurasia of BlueOrchard Finance Ltd: “In partnership with BNB-Bank, BlueOrchard Finance Ltd is pleased to further provide financial support to the micro, small and medium enterprises (MSME) in Belarus through a new loan facility of EUR 3mm. We believe that BNB-Bank is one of the most dedicated contributors to the development of the MSME sector in Belarus and we are certain that enhancing the access to financing to the small and medium entrepreneurs leads to a stronger economy and improved livelihood.

Siarhei Sabuk, Deputy CEO of BNB-Bank: “We are pleased with the next deal with one of our main foreign financial partners. The continued growth of our total portfolio shows both confidence in Belarusky Narodny Bank and high evaluation of the results of supporting SMEs. We thank BlueOrchard company for the successful project and look forward to new interesting deals aimed at achieving common goals: improving access to financing for private businesses and their growth”.

About BlueOrchard Finance Ltd:

BlueOrchard Finance Ltd. was established in 2001 in Geneva. It manages the first in the world commercial microfinance fund BlueOrchard. Company offices are located in 4 continents. 

BlueOrchard is a leading commercial microfinance intermediary. The mission of BlueOrchard is to   expend opportunities and raise the quality of life by means of assistance of income-producing activities through private investment in micro financing. BlueOrchard creates innovative financial instruments and decisions for micro financing, bridging the gap between capital markets and financial organizations, providing high yield of investments and at the same time supporting the development of billion of promising SMEs.

About BlueOrchard Microfinance Fund:

BlueOrchard Microfinance Fund was established in 2001 in Luxembourg and is the first in the world commercial microfinance fund.

For further information, please contact:

http://blueorchard.com/

About BNB-Bank:

Belarusky Narodny Bank (BNB-Bank) was established in 1992. Its head office is located in Minsk, Niezaleznasci ave., 87а. Fifteen service centers of BNB-Bank are located in 5 cities of Belarus (Minsk, Homiel, Brest, Viciebsk, Mahilou). The major shareholders are Bank of Georgia (79,99%) and IFC (19,99%). BNB-Bank provides wide range of services for legal entities and individuals. Support of SMEs is the major strategic goal of the bank. Belarusky Narodny Bank is the most dynamic bank of Belarus. BNB-Bank is included in the top-5 most efficient banks of Belarus. Belarusky Narodny Bank’s project of increasing the financial literacy of children was recognized as the best Belarusian projects in the field of corporate social responsibility in 2015.

In 2014 Belarusky Narodny Bank claimed about launching SMArt Business Program for support of SMEs in Belarus with the motto “Art of running business” by means of combination of different financial and non-financial services in the single complex of measures.

Main aims of the program:

1) Provide and broaden access of SMEs to financing;

2) Improve and raise standards of service quality;

3) Create and develop the platform of experience exchange between entrepreneurs.

For further information, please contact:

e-mail: marketing@bnb.by

 
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