Kyrgyzstan and Belarus signed an agreement on export loans. The press service of the Development Bank of Belarus reported.
During the meeting of the Intergovernmental Belarus-Kyrgyzstan Commission on Trade and Economic Cooperation, the Development Bank of Belarus and the State Development Bank of the Kyrgyz Republic signed a basic agreement on the general terms of provision of export loans.
It is noted that the document was signed «in order to assist Belarusian exporters in promoting their interests in the Kyrgyz market.»
«The document envisages the creation of a universal financial infrastructure to support domestic exports, within the framework of which borrowed funds for the consumer will be cheaper than other loans for these purposes,» First Deputy Chairman of the Board of the Development Bank Roman Brodov commented.
The mechanism of the agreement involves the provision of financing by the Development Bank of Belarus to the State Development Bank of the Kyrgyz Republic.
«In turn, within the framework of the legislation of its country, using its own client network, it will be able to provide these preferential resources to enterprises interested in purchasing Belarusian goods and services. To do this, after concluding the contract, the buyer will need to contact a financial institution in Kyrgyzstan to receive the necessary loan amount from the Development Bank’s funds,» the press service explained.
