02.05.2013
Belarus’ Development Bank, German AKA sign agreement on export credit support
MINSK, 2 May (BelTA) – The Development Bank of Belarus and a syndicate of German Banks AKA Ausfuhrkredit-Gesellschaft mbH signed a framework agreement on export credit support, BelTA learnt from the bank.
“The agreement will allow the Development Bank of the Republic of Belarus attract long-term resources under the insurance coverage of the export credit agency Euler Hermes,” the Development Bank said. It is expected that the framework agreement will lay foundation for development and strengthening of bilateral interbank cooperation in financing large-scale investment projects, including socially-significant projects for Belarus, the Belarusian bank added.
The syndicate of German Banks AKA Ausfuhrkredit-Gesellschaft mbH was founded in 1952. Its shareholders are 19 largest financial institutions of Germany. AKA Ausfuhrkredit-Gesellschaft mbH is a credit organization financing foreign trade through optimization of sponsoring export contracts under the insurance coverage of Euler Hermes and other export credit agencies.
The Development Bank of the Republic of Belarus was created in 2011 by the relevant presidential decree. The bank is designed to focus on financing government programs and socially important investment projects. The founders are the Council of Ministers and the National Bank of the Republic of Belarus. Belarus PM Mikhail Myasnikovich has been appointed Chairman of the Supervisory Board of the Bank, Sergei Rumas -Chairman of the Board of the Development Bank.
“The agreement will allow the Development Bank of the Republic of Belarus attract long-term resources under the insurance coverage of the export credit agency Euler Hermes,” the Development Bank said. It is expected that the framework agreement will lay foundation for development and strengthening of bilateral interbank cooperation in financing large-scale investment projects, including socially-significant projects for Belarus, the Belarusian bank added.
The syndicate of German Banks AKA Ausfuhrkredit-Gesellschaft mbH was founded in 1952. Its shareholders are 19 largest financial institutions of Germany. AKA Ausfuhrkredit-Gesellschaft mbH is a credit organization financing foreign trade through optimization of sponsoring export contracts under the insurance coverage of Euler Hermes and other export credit agencies.
The Development Bank of the Republic of Belarus was created in 2011 by the relevant presidential decree. The bank is designed to focus on financing government programs and socially important investment projects. The founders are the Council of Ministers and the National Bank of the Republic of Belarus. Belarus PM Mikhail Myasnikovich has been appointed Chairman of the Supervisory Board of the Bank, Sergei Rumas -Chairman of the Board of the Development Bank.