Business news

According to the source, a representative delegation of African financial and business circles visited Belarus. On 20 June the Development Bank of the Republic of Belarus signed a memorandum of understanding with the African Export-Import Bank. The document provides for the joint financing of supplies of Belarusian machines, vehicles and equipment to 41 African countries, including Angola, Kenya, Zimbabwe, Egypt, Tanzania, Ghana, Nigeria, Zambia, and Tunisia.

Representatives of the Development Bank of the Republic of Belarus and the African Export-Import Bank also discussed promising avenues of cooperation and possible projects involving companies from Belarus and Africa. BelTA has been told that the Development Bank of the Republic of Belarus views the African Export-Import Bank as a strategic partner on the African continent along with the Eastern and Southern African Trade and Development Bank (PTA Bank). DBRB and PTA Bank signed an export loan agreement in October 2013.

The African Export-Import Bank is an international (interregional) financial institution. It was established in 1993 and is headquartered in Egypt. The bank’s assets are estimated at roughly $5.5 billion, with the charter capital as large as $0.9 billion. The bank has its own international credit ratings Baa2 (Moody’s) and BBB (Fitch). The bank’s founders are located in 41 African countries.

The public joint-stock company (OAO) Development Bank of the Republic of Belarus is a specialized financial institution. The founders of the bank are the Council of Ministers and the National Bank of Belarus. The state owns the controlling interest in the bank. The bank has been tasked with financing long-term and capital-intensive investment projects, state programs and activities.