Belarusky Narodny Bank attracted US$ 6 million
due to the signing of another agreement with
International Finance Corporation in The Hague
December 12, 2014, The Hague (the Netherlands) at the headquarters of Development Bank of the Netherlands (FMO) Belarusky Narodny Bank signed an agreement with International Finance Corporation (IFC) for a syndicated loan in the amount of US$ 6 million for the period of up to 4 years.
This loan is a part of US$ 13 million financing from IFC provided to Belarusky Narodny Bank for expanding its lending operations to small and medium enterprises (SME) in the Republic of Belarus. The package includes the loan in the amount of US$ 7 million from IFC’s own account that was already committed and a syndicated loan in the amount of US$ 6 million by FMO which was signed today.
The agreement was signed by Constantine Tsereteli, Chief Executive Officer at Belarusky Narodny Bank and by Rufat Alimardanov, Regional Director for Ukraine and Belarus at International Finance Corporation.
The new agreement is another successful step in the development of cooperation between Belarusky Narodny Bank and international institutions in terms of the syndicated loan. We are thankful to our partners: IFC, which is one of the shareholders of BNB-Bank, for the important and timely support; and FMO, which has expanded cooperation with us from the trade finance credit line to the participation in the loan agreement, thereby more actively supported the development of SMEs in Belarus. In addition, FMO participation in the deal is a good proof of readiness as a whole by the international financial institutions to expand cooperation with Belarusky Narodny Bank to support the development of SME in the Republic of Belarus, – said Constantine Tsereteli, Chief Executive Officer of Belarusky Narodny Bank.
Belarusky Narodny Bank (BNB-Bank) was founded in 1992. Its head office is located in Minsk, Nezaleznasci ave., 87а. 11 service centers of BNB-Bank are located in 4 cities of Belarus (Minsk, Gomel, Brest, Vitebsk). 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. Supporting of SMEs is the major strategic goal of the bank. Belarusky Narodny Bank is included in the top-5 of the most efficient banks in Belarus.
About the International Finance Corporation (IFC):
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in about 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and boost shared prosperity. In FY14, we provided more than $22 billion in financing to improve lives in developing countries and tackle the most urgent challenges of development. For more information, visit www.ifc.org.
FMO (the Netherlands Development Finance Company) is the Dutch development bank. FMO supports sustainable private sector growth in developing and emerging markets by investing in ambitious entrepreneurs. FMO believes a strong private sector leads to economic and social development, empowering people to employ their skills and improve their quality of life. FMO focuses on three sectors that have high development impact: financial institutions, energy, and agribusiness, food & water. With an investment portfolio of EUR 6.6 billion, FMO is one of the largest European bilateral private sector development banks. www.fmo.nl