Business news

MOSCOW, 11 December (BelTA) – The Development Bank of the Republic of Belarus (DBRB) and Banca Intesa of the Italian banking group Intesa Sanpaolo will sign a bilateral loan agreement, BelTA learned from the press service of the Belarusian Embassy in Russia.

The signing ceremony will take place at the Italian Embassy in Moscow on 14 December.

It is expected that the Belarusian side will get a financial loan worth €15 million to be used for general financing purposes, including for buying Italian products.

The agreement is expected to be inked by DBRB Chairman of the Board Sergei Rumas and Chairman of the Board of Directors at Banca Intesa Antonio Fallico.

The Development Bank of the Republic of Belarus is a specialized financial institution. It was founded by the Council of Ministers and the National Bank of the Republic of Belarus. The bank is responsible for financing long-term and capital-intensive investment projects as part of government programs and projects.

Banca Intesa is a subsidiary of the Italian banking group Intesa Sanpaolo which is one of the largest financial groups in Europe and is the leader in Italy in all business areas. Banca Intesa offers a wide range of banking services to businesses and individuals in 25 regions of Russia, from Kaliningrad to Vladivostok. Its key activities include corporate lending and lending to small and medium-sized enterprises.