EBRD opens $10m credit line for Belvnesheconombank to support small business

The European Bank for Reconstruction and Development (EBRD) has opened a $10m credit line for Belvnesheconombank for five years to provide credit support to small and medium-sized businesses.

The sides signed a relevant agreement on 29 December 2010.

The two banks are planning to expand cooperation. The EBRD and Belvnesheconombank are set to sign an agreement that would allow the Belarusian bank to take part in the EBRD trade finance program.

Belvnesheconombank was registered by the National Bank of Belarus on 12 December 1991. The largest shareholder is the state corporation Bank for Development of Foreign Trade (Vnesheconombank) (97.42%). The bank operates more than 20 branches across the country.

According to www.belta.by