Belarusky Narodny Bank attracts US$ 4 million from international funds
Belarusky Narodny Bank signed two Loan Agreements with BlueOrchard Microfinance Fund and Microfinance Enhancement Facility S.A. in the amount of USD 4 million. BlueOrchard Finance S.A., Switzerland, acted as an investment manager of the funds.
In accordance with the terms and conditions of the Loan Agreements the loans are provided for 36 months for the development of SME loan programs in Belarus.
“We greet the expansion of the scope of partners, which aim at stimulating the development of private initiative, creation of new working places and promotion of stable development of Belarus and that possess expertise and experience in the realization of similar projects in various regions of the world.
SMEs support is the main strategic goal of BNB-Bank. The funds received from BlueOrchard and Microfinance Enhancement Facility SA in accordance with the signed Loan Agreements will help to broaden the loan programs and satisfy the urgent business need in long-term funding. Besides, the implementation of this project in current economic conditions emphasizes one more time the reliability and transparency of BNB-Bank even for foreign players”, - Constantine Tsereteli, Chief Executive Officer, commented.
As Sergey Sabuk, Deputy Chief Executive Officer, stated: “Attraction of foreign investments is important for Belarus like never before in order to support internal demand, stimulate economic activity and allow inflow of foreign currency in the country. In recent years Belarusky Narodny Bank substantially expanded the number of international partners that allowed not only to increase recognizability and strengthen the image of BNB-Bank in the international arena, but to diversify and optimize the liabilities”.
About BlueOrchard Finance S.A:
BlueOrchard Finance S.A. was established in 2001 in Geneva. It manages the first in the world commercial microfinance fund BlueOrchard. Company offices are located in 4 continents.
Blue Orchard is a leading commercial microfinance intermediary. The mission of Blue Orchard is to expend opportunities and raise the quality of life by means of assistance of income-producing activities through private investment in micro financing. Blue Orchard 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 Microfinance Enhancement Facility SA:
Fund Microfinance Enhancement Facility SA was established in 2009. It provides short-term and medium-term financing to microfinance institutions and is a member of World Bank Group. As a fund with customer-oriented approach, MEF provides financing to more than 100 microfinance institutions in 40 countries all over the world. The mission of MEF is supporting and maintenance of development as well as prosperity through financing of micro organizations, taking into account the conception of social and ecological responsibility, complementarily principle and market-oriented approach. MEF views its aim as economic growth stimulation, providing employment and reducing of poverty level within developing markets.
About BlueOrchard Microfinance Fund:
BlueOrchard Microfinance Fund was established in 2001 in Luxembourg and is the first in the world commercial microfinance fund.
Belarusky Narodny Bank (BNB-Bank) was established в 1992 году. Its head office is located in Minsk, Nezaleznasci ave., 87а. Twelve 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. Support of SMEs is the major strategic goal of the bank. Belarusky Narodny Bank is the most dynamic bank of Belarus.
In April 2014 года 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.
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