The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral development institution, recently announced it will loan EUR 20 million (USD 23 million) to the Bank Moscow-Minsk, which is owned by the National Bank of Belarus. Half of the total will be in the form of a credit line for on-lending to micro-, small and medium-sized enterprises. The other half is earmarked to finance international trade and will be complemented by relevant technical assistance. The transaction is part of a process intended to facilitate the privatization of the bank over several years.
EBRD was founded in 1991 and has 65 shareholding countries as of 2017. The bank, which focuses on “the promotion of private and entrepreneurial initiative,” invested EUR 9.4 billion (USD 10.1 billion) in companies in 30 countries during 2016.
Bank Moscow-Minsk has total assets of BYR 859 million (USD 435 million), a gross loan portfolio of BYR 523 million (USD 265 million), deposits of BYR 580 million (USD 294 million) and an annual net profit of BYR 3 million (USD 1.5 million) as of 2016.
By Sascha Strobl, Research Associate
Sources and Additional Resources:
EBRD press release:
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