Business news
Agreement on loans to sell Belarusian goods in Kyrgyzstan
MINSK, 23 March (BelTA) – The Belarus government has approved a draft agreement with OAO Aiyl Bank on terms of issuing loans that will be used to buy Belarus-made products in Kyrgyzstan. The relevant decision is approved by Council of Ministers resolution No. 220 of 18 March, BelTA has learned.
The document was adopted in line with Belarus president decree No. 466 on measures to sell Belarus-made products of 24 September 2009. The Belarusian Finance Ministry and the Industry Ministry have been authorized to negotiate with the Kyrgyz bank and sign the relevant agreement. If necessary, minor amendments to the agreement can be introduced.
OAO Belagroprombank will act as the agent bank for the sake of transferring the sums Belarus is supposed to compensate. The Belarusian bank will be given at most 0.02% of the sums as premium.
The Council of Ministers resolution comes into force as of the publication date.
OAO Aiyl Bank was founded by the Kyrgyzstan government with financial and technical assistance of the World Bank in 1996. At present it is one of Kyrgyzstan’s top financial institutions and takes care of government programs on agribusiness development. The bank offers the full range of banking services, including services for individuals and corporations, investment banking services, trade financing, and assets management.
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