Activities

Support of export

In accordance with the Decree of the President of the Republic of Belarus of 21.06.2011 № 261 “On establishment of joint stock company “Development Bank of the Republic of Belarus” one of the primary objectives of the Development Bank is promotion of export through its financial support.

The Development Bank provides financial support to export within the framework of the Decree of the President of the Republic of Belarus of 25.08.2006 № 534 “On the promotion of exports of goods (works, services)” (hereinafter referred to as Decree № 534) by means of:

  • financing not resident companies of the Republic of Belarus for payment for goods from the list , works, service realized by residents or for advance payment for goods from the list , works, service manufactured and (or) realized by residents of the Republic of Belarus; 
  • financing non-resident banks with a view of their subsequent financing of customers for payment for goods from the list , works, service realized by residents or for advance payment for goods from the list , works, service manufactured and (or) realized by residents of the Republic of Belarus .

The Decree of the President of the Republic of Belarus dd 23.02.2016 No78 “On actions to increase the efficiency of social and economic complex of the Republic of Belarus” stipulates that the Development Bank is a single channel of granting export loans to non-residents.

The Resolution of the Council of Ministers of the Republic of Belarus dd 06.04.2016 No279 “On approving the Regulation on the procedure of granting export loans by joint-stock company Development Bank of the Republic of Belarus to non-resident entities of the Republic of Belarus and a list of products for the purchase of which the export loans are granted” determines the procedure of granting export loans by the Development Bank and approves of the list of products the deliveries of which can be financed by means of export loans. Basing upon the list of products stipulated in the a.m. Resolution the key area for the Development Bank to grant export loans is funding services or deliveries of hi-tech goods. Export loans for payment for purchased goods not included into the list can be granted on the basis of offers from republican state administrative bodies or other state-owned entities under the control of the Government, as well as from regional executive committees and Minsk City Executive Committee upon agreement with Ministry of Economy and Ministry of Finance.

Terms of export loans granting:

Interest:

  • In foreign currency (except RUB) as per Commercial Interest Reference Rate (CIRR);
  • In RUB – at the rate of 2\3 refinancing rate fixed by the Central Bank of Russia (currently the interest rate makes 6.5% p.a.).

Financing period:

  • up to 5 years;
  • when large-scale investment projects are financed– up to 10 years.

Amount of credit:

  • No less than 1 mln. US Dollars (or an equivalent in other currencies).

Amount of borrower’s minimal participation in the project should be:

  • no less than 15% of the contract cost.

Requirements to the borrower:

  • financial stability, the ability to provide a collateral.

Other conditions of export credit granting:

  • One of the obligatory conditions of export credit granting is insurance of export risks with State support by BRUEEII ”Eximgarant of Belarus” ( on the terms of the Decree № 534). The cost of insurance, expenses on which are to be borne by the borrower, depends on several factors, namely: country of supplier’s domicile, tenor of the loan, availability of collateral, etc. and averages to 1-4% per annum.

Total debt expenses borne by borrower consist of interest on credit and insurance expenses.

The advantage of working with the Development Bank in this area is the existence of a codified simplified procedure of export credits granting.

Both state and private owned companies can be borrowers.

In order for export credit application to be considered, the full set of documents of the non- resident borrower is required.

The Development Bank actively promotes interbank cooperation based on the agreements reached with foreign banks that help to speed up the procedure of export credit granting.

Benefits for Belarusian exporters:

  • Sales volume expansion; 
  • Expansion of geography of exports without debt growth; 
  • Preferential terms of sales (deferred payment, etc); 
  • Minimization of risks of defaulting on contracts; 
  • Acceleration of turnover of shipped goods.

For additional information on methods and mechanisms of export financing, you may watch the Bank’s presentation or contact bank employees:

Gennadi Khomitch
(Head of export financing)
Tel. +375 17 239 11 43
E-mail: homich.g@brrb.by

Alexander Savitskiy
(Chief Specialist of export financing)
Tel. +375 17 309 68 33
E-mail: savitskiy.a@brrb.by

Vyatcheslav Chirak
(Chief Specialist of export financing)
Tel. +375 17 309 68 32
E-mail: chirak.v@brrb.by

Pavel Kouchouk
(Chief Specialist of export financing)
Tel. +375 17 309 68 57
E-mail: kuchuk.p@brrb.by

Elizaveta Bolshinskaya
(Chief Specialist of export financing)
Tel. +375 17 309 68 78
E-mail: bolshinskaya.e@brrb.by