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Belagroprombank to allocate €85mn to finance upgrade projects in dairy industry in 2012

MINSK, 30 December (BelTA) - The loan portfolio of Belagroprombank for 2012 includes investment projects totaling €85 million, BelTA learnt from Chairman of the Board of Belagroprombank Vladimir Podkovyrov.

In 2012 the Bank will focus on financial support of upgrade projects in the domestic dairy industry. In particular, the investment project of Bellakt Dairy (town of Volkovysk) is estimated at €24 million. Construction of a dairy plant in the town of Turov will require €27 million. Some €14 million will be allocated to finance upgrade projects of regional dairies in Minsk Oblast.

The project to set up the national dairy company has not been accurately evaluated yet. As part of the plan Savushkin Product Dairy is expected to buy out two dairies in Minsk and one in Smolevichi.

“Over the past five years Belagroprombank has raised $3 billion worth of foreign loans,” said Vladimir Podkovyrov. Our Bank has financed the upgrade projects of almost the entire domestic processing industry. As a result, the range of products has greatly been expanded. Today some enterprises offer consumers more than 200 descriptions of products. Belarusian meat-packing plants and dairies hold strong positions in the vast Russian market.