Belagroprombank borrowed €50 million from the largest European financial institution to support small and medium-sized businesses

On 20 November, an agreement was concluded between JSC Belagroprombank and the European Investment Bank (EIB) in the House of Government. A €50 million loan agreement for a term of 6 years was signed by the Chairman of the Board of Belagroprombank Anatoli Lysiuk and the EIB Vice President Alexander Stubb, in attendance of the Prime Minister of the Republic of Belarus, members of the Government and the representatives of other state administration bodies, as well as Belarusian and foreign financial institutions.

Keeping in mind the scale of the EIB’s business (the size of the assets is larger than that of the EBRD and is comparable to that of the IMF), the agreement testifies to the high credibility of the Belarusian banking sector, and of Belagroprombank in particular, on the Western and Central European financial market.