VEB opens a USD30m credit facility to support exports of Russian railway products to the Republic of Belarus

Vnesheconombank and Belarusbank have signed a USD30m credit facility agreement. The loan proceeds will be used to purchase Russian railway products.

Vnesheconombank has provided the loan to Belarusbank to finance the cost of Russian rails and railway switches for the Belarusian Railway.

“Supporting non-commodity exports is a strategic area of operation for Vnesheconombank. We operate both in the new markets of the South-East Asia, Africa, and Latin America, and in the traditional markets, such as C.I.S. Promoting the supplies of railway products to the Republic of Belarus will also enhance the integration processes in Eurasia,” noted Daniil Algulyan, Senior Vice President and Head of International Business, Exports, and Financial Institutions at Vnesheconombank.

“This joint investment project supported by our Russian colleagues is essential for both our VIP customer, Belarusian Railway, and for the economy of Belarus on the whole,” said Viktor Perepelitsa, Deputy Chairman of the Management Board at Belarusbank. “We highly value the trust of our business partners.”

Press Office
E-mail: press@veb.ru

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