Vnesheconombank to extend credit to the Government of the Republic of Belarus


State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’, the Government of the Republic of Belarus represented by the Finance Ministry and OJSC Bank BelVEB entered into a credit agreement.

Under the agreement Vnesheconombank is to provide the Government of the Republic of Belarus with credit facilities for a total amount of up to 500 million US dollars.

The credit facilities are to be used to fund advance payments under the project on the construction of the first atomic power station on the territory of the Republic of Belarus under the export contract between CJSC Atomstroiexport (the Russian Federation) and Republican Unitary Enterprise Belorussian Atomic Power Station.

Under the agreement signed, OJSC Bank BelVEB is to act as a settlement bank.

To build an atomic power station the Belorussian side selected a project of Russia’s new generation power station “3+” AES-2006 with improvedtechnical and economic characteristics.

Vnesheconombank’s participation in funding the said project helps to promote the export of Russian high-technology industrial products to foreign markets.


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