OREANDA-NEWS. January 10, 2013. Belarus plans to simplify by April 2013 the formalities for providing export credits and export insurance coverage for export contracts with a liability ceiling below USD 500,000.

The move is prompted by the plan of joint activities of the National Bank of Belarus and the Government, aimed to fulfill the macroeconomic forecast for 2013.

According to the document, for contracts with contracts with a liability ceiling below USD 500,000, the decision making process should not exceed five days.

As previously reported, Belarus’ Finance Ministry and Russia’s Sberbank signed a supplementary agreement in February 2012 to extend for 2012 the practice of providing low-interest loans to Russian consumers buying Belarusian-made machinery.

The move was intended to promote sales of Belarusian-made commodities on the Russian market and increase foreign currency proceeds from export. The low-interest credit scheme is available for purchasing mainly automobiles, trolleybuses, tractors, forage and grain harvesters.