Belarusian companies to get bank loans at attractive interest rates

In the near future Belarusian companies will be able to take out bank loans at interest rates, which will be much lower than those available now, Belarus first vice premier Vladimir Semashko told media today when asked by BelTA. He noted, to make the offer come true, the Belarusian government has set up a panel led by representatives of the National Bank management and top executives of the finance ministry. They have already held negotiations with several banks. “We have already reached an agreement with some of the banks — they will provide bank loans”, underscored Vladimir Semashko. He refused to specify the exact interest rate. “It is a commercial secret, as the negotiations continue”, added the official. But the price for the loans will be much lower than the one Belarusian economic entities pay for loans available from domestic and foreign banks. Vladimir Semashko assured, information about which banks have signed loan agreements and on what terms will be disclosed soon. Assessing the national financial market status, the first vice premier admitted, the present interest rates are rather high for Belarusian companies. But they can take out the loans and recoup the costs. Manufacturers should continue working both with domestic and foreign banks to secure their development and free floating assets. “Now we see banks doing it because they earn their living”, noted Vladimir Semashko.

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