Belarus, Ukrgazbank Will Negotiate Credit Support for Exports
OREANDA-NEWS. The Government of Belarus has authorized the Ministry of Finance in association with the Ministry of Industry and OAO Belarusbank to hold talks with Ukraine's Ukrgazbank about the terms of credit incentive for Ukrainian consumers to encourage them to purchase Belarusian-made commodities.
OAO Belarusbank shall act as an agent bank to implement the terms of the export stimulation scheme.
As previously reported, the Government of Belarus and Russia' Sberbank extended the agreement on providing credit support for Russian consumers of Belarusian-made products.
The agreement is there to facilitate exports of Belarusian products to Russia, with Belarus providing partial compensation for interest payments made by Russian consumers buying Belarusian products with Sberbank credits.
Belarus plans to use a similar mechanism to promote exports of Belarusian products to Ukraine and a few African states. Belarus' Vice Premier Vladimir Semashko made a statement to this effect at the joint session of both chambers of the Belarusian parliament on October 31.
There are financial resources for export promotion earmarked in the 2014 budget plan.
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