Business news

TBILISI, 23 March (BelTA) – The Development Bank of Belarus is working on three contracts to supply Belarusian products to Georgia, Chairman of the Board of the Development Bank of Belarus Sergei Rumas told BelTA.

A memorandum of cooperation was signed between the Development Bank and the Georgian Partnership Fund in Tbilisi in the presence of the heads of state. “When we come to support exports to new countries, it is very important for us to find and provide resources to a local partner so that he could finance our customers. Thanks to the embassy, ​​we have developed cooperation with the Georgian Partnership Fund. This state-run organization is very similar to ours, the Development Bank. It finances large projects and is ready to partner with the Development Bank in providing loans for the Belarusian exports to Georgia,” said Sergei Rumas.

According to him, the Partnership Fund also issues guarantees for Georgian business entities. "We can either arrange the equipment for leasing or provide loans to the buyer of our products under the guarantees of the Partnership Fund. Today we have signed the first document, a memorandum of cooperation,” Sergei Rumas said.

In his words, the bank is working on three contracts. “The first one is 25-30 harvesters that Georgia wants to buy before the harvest season 2018. The second major contract envisages fire engines on MAZ chassis. The third contract is on the refit of lifting equipment in the Georgian housing stock,” Sergei Rumas said.

The Partnership Fund has good ratings and a robust financial standing. “We will set a limit that will allow us to implement these three contracts and others,” the head of the Development Bank said.