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Belarus' Development Bank to issue export loans to foreign companies

MINSK (BelTA) – The Development Bank of the Republic of Belarus (DBRB) has been authorized to issue export loans with state support to a nonresident or a foreign bank for the payment for Belarusian products sold by an official representative of a Belarusian organization. Belarus President Alexander Lukashenko signed corresponding decree No. 317, BelTA learned from the press service of the Belarusian leader.

Loan will be provided when high-tech investment products made by Belarusian organizations are exported provided that these products are included in the list of goods approved by Council of Ministers' resolution No. 279 of 6 April 2016. The loan can cover up to 85% of the product's value.

The decree is designed to promote export and boost the export of Belarusian products to foreign markets, especially to distant countries.