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25 January 2021

National export center to be set up at Belarus’ Development Bank

MINSK, 25 January (BelTA) – A national export center will be set up at the Development Bank of Belarus in 2021, Chairman of the Board of the bank Andrei Zhishkevich said in an interview to the ONT TV channel, BelTA has learned.
“The center will be set up this year. The task is to organize this kind of toolkit on the basis of a subsidiary of the Development Bank as quickly as possible,” said Andrei Zhishkevich.
Today, the Development Bank provides export loans. It is a classic mechanism of government export incentives that exist in many countries. “In Belarus, it is also close to the best standards in terms of export loan terms. Supplementing the financial toolkit with non-financial ones is the next step,” said the chairman of the board.
According to him, there is a task to provide one-stop shop opportunities to any exporter seeking to enter a new market, check the creditworthiness and business reputation of the potential counterparty.
“This kind of accompanying consulting is not necessarily financing. This center can and should help any exporters,” explained Andrei Zhishkevich.
Speaking about landmark projects with the financial participation of the Development Bank, Andrei Zhishkevich mentioned the construction of the third metro line in Minsk, overpasses in Mogilev and Vitebsk, and a medical center in Brest.
In 2020, the Development Bank introduced a new form of financing and conducted a competitive selection of projects for the construction of dairy farms with a new type of state support. Eleven projects that win the competition receive such financing.