Business news

MINSK, 21 June (BelTA) – Belarusbank and Russia’s Vnesheconombank have signed an agreement on opening a credit line to the tune of $30 million, the press service of the Belarusian bank told BelTA.

The credit resources will be used to buy Russian railway products.

In particular, Belarusian Railways will use Vnesheconombank resources to buy Russian rails and switchgear.

Belarusbank Deputy Chairman of the Board Viktor Perepelitsa said that the implementation of this investment project is important both for the bank’s VIP client – Belarusian Railways – and for the Belarusian economy as a whole. “We highly appreciate the mutual trust of our business partners,” he said.

In turn, Daniil Algulyan, Vnesheconombank Senior Vice President in charge of international operations, export, and financial institutions, explained that supporting the export of products other than raw materials is a strategic area of work for the Russian bank. “The geography of our work includes new markets in Southeast Asia, Africa, and Latin America as well as traditional markets, including the CIS states. The shipment of railway products to Belarus will also contribute to the advancement of integration processes in the Eurasian space,” he stressed.