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Belarusky Narodny Bank signed the agreement with the Development Bank of the Republic of Belarus to support SMEs
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Belarusky Narodny Bank signed the agreement

with the Development Bank of the Republic of Belarus to support SMEs

Belarusky Narodny Bank signed the agreement with the Development Bank of the Republic of Belarus and became one of the pilot participants of the program of financing of small and medium enterprises.

The solemn signing ceremony of the agreement between Belarusky Narodny Bank and the Development Bank was held on August 12, 2014. As a result the long-term program aimed at providing financial support to small and medium enterprises was launched. Primary objective of the program is to finance micro, small and medium enterprises which conduct their business in industrial and service sector.

The major instrument of the program is extension to the borrowers of credit resources with clear and obvious requirements at acceptable price.

Financial support under the program includes all the steps of the life cycle of SMEs from the very establishment to the sustainable functioning, expansion of production and entry into new markets. Credit resources are granted for 5 years.

The interest rate is limited and differs from the predominant interest rates in existing market in a favorable way.

The Development Bank invited several financial institutions to the pilot participation in the program that possess required experience and expertise at SME lending: BNB- Bank, Bank BelVEB and Belgazprombank.

In the solemn ceremony of signing the agreement participated CEO of the National Bank of the Republic of Belarus Nadezhda Ermakova, Deputy Prime Minister of the Republic of Belarus Piotr Prokopovich, Minister of Economic Affairs of the Republic of Belarus Nikolay Snopkov, CEO of the Development Bank Sergey Rumas, CEO of Bank BelVEB Pavel Kallaour, CEO of Belgazprombank Victor Babariko, Deputy CEO of BNB-Bank Sergey Sabuk.

Funds received under the entered agreement will be used by Belarusky Narodny Bank for extension of loans to SMEs both in the capital city and regions of Belarus. The clients’ financing needs for acquisition (reconstruction, modernization, building, capital repair) of fixed assets (buildings, constructions, machinery, vehicles, equipment) for their industrial activities or rendering of services will be met.

This program will expand access of SMEs to financial resources which are essential for realization of investment projects and moreover, will provide targeted support by allocation of funds in favor of more effective of the suggested initiatives.

«Signing this agreement and the start of the program is definitely the remarkable event not only for Belarusky Narodny Bank, but also for the overall business community. It indisputably confirms our qualification and potential. More than 5 years the support of SMEs is the major strategic objective of Belarusky Narodny Bank. And as a result, in spring 2014 BNB- Bank, amalgamating different financial and non- financial instruments announced the start of the “SМАrt  Business: Art of doing business” program supporting SMEs in Belarus. In order to meet the constant high demand for SME loans our bank discovers the possibilities to draw the resources on favorable terms. At the moment the amount of credit lines from foreign banks and development institutions, such as IFC, EBRD, Triple Jump, NEFCO amounts to about 45 mln.USD. And now after signing of the agreement between our bank and the Development Bank it will become possible to offer financing in BYR on favorable terms. Moreover, being aware of the requirements of our clients, we realize that long-term cheap money in local currency will allow SMEs to become able to meet competition, contributing to employment, implementation of technological innovations and promotion of import substitution and capture of the domestic market , and thus – to foster economic development and prosperity in the future», – commented Deputy CEO of BNB-Bank Sergey Sabuk.

About BNB-Bank

Belarusky Narodny Bank (BNB-Bank) with its head office in Minsk, Nezaleznasci ave., 87а was founded in 1992. 10 service centers of BNB-Bank are located in 4 cities of Belarus (Minsk, Gomel, Brest, Vitebsk). Major shareholders are Bank of Georgia (79,99%) and IFC (19,99%). BNB-Bank provides wide range of services for legal entities and individuals. Supporting of SMEs is the major strategic goal of the bank. Belarusky Narodny Bank is included in the top-5 of the most effective banks in Belarus.

About «SМАrt Business»

In April 2014 by means of amalgamation of different financial and non-financial services in a single set of measures, Belarusky Narodny Bank announced the beginning of the «SМАrt Business» program aimed at supporting of SMEs in Belarus under the slogan «Art of doing business!»

Launching the program «SМАrt Business» BNB-Bank set the following goals:

1) Provide and expand the access to the financing for SMEs;

2) Improve and raise the quality standards of services;

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

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