Republic

EBRD opens $3mln credit line for Belarusian RRB-Bank

The European Bank for Reconstruction and Development /EBRD/opened a $3 million credit line for RRB-Bank for a five-year term to provide much-needed financing for small and medium-scale businesses, RRB-Bank Deputy Chairman of Board Viktor Doronkevich told reporters on December 13. According to him, RRB-Bank and the EBRD had long talks before signing the agreement. The work was supervised by the National Bank of Belarus. According to Michael Davey, Director for Caucasus, Moldova and Belarus of the European Bank for Reconstruction and Development, the EBRD is completely satisfied with the deal. Thus, RRB-Bank became the sixth financial institution in Belarus cooperating with the EBRD. “This is a good bank. It has good prospects,” Michael Davey underlined and expressed hope that the bank will start immediately meeting all the goals set. Besides, the EBRD will also provide assistance to RRB-Bank in crediting small and medium-scale businesses.