JSC “Reshenie Bank” and European AKA Ausfuhrkredit-Gesellschaft mbH will finance foreign trade operations of Belarusian companies
December 14, 2018, Minsk — Chairperson of the Board of JSC «Reshenie Bank» Sergey Budnikov and Director-Deputy Head of Export Trade Finance of the AKA Ausfuhrkredit-Gesellschaft mbH Dieter Reiss, signed a Basic Agreement on providing financing to a Belarusian bank.
Under this agreement, JSC «Reshenie Bank» will be able to provide financing for short-term and long-term projects of its clients with counterparties from the countries of the European Union and Germany, in particular. Among the clients of the JSC «Reshenie Bank» there are many companies that work closely with German corporations, so the need for organizing such financing is highly relevant. The credit line provided is insured by the German insurance company Euler Hermes.
A representative of the consortium of German banks AKA Dieter Reiss, said: «This is the first time that AKA has decided to support a relatively small but promising Belarusian bank by providing financing for the development of small and medium-sized businesses in Belarus. Our decision was based on careful studies of the Bank’s development strategy and the fact that the Bank credits real industrial production. Among the first applications for funding, we expect such Importers as MAZ-MAN, BelAvtoMaz, BelTB-Service LLC, which have been cooperating with German companies for a long time and are tending to expand such relationships.»
Sergey Budnikov, Chairperson of the Board of the JSC «Reshenie Bank», commented: «The conclusion of this agreement is a clear confirmation of the positive investment climate in Belarus, thus we support the policy of our state in relations with the European Union. We are very interested in Germany, it is a high-tech, powerful country, and we are interested in its investments and technologies. Long-term target resources, with insurance coverage of export credit agencies, will be provided for the purchase of fixed assets and implementation of investment projects in Belarus. Due to these «related» loans, up to 85% of the contract price will be financed, as well as the cost of insuring a loan.
AKA Ausfuhrkredit-Gesellschaft mbH - founded in 1952. Currently, its shareholders are the 17 largest banks in Germany. The main objective of the bank is to provide support in financing foreign trade operations.