Business news

MINSK, 31 July (BelTA) - S&P Global Ratings has affirmed the rating of the Development Bank of Belarus at ‘B-/B’ with the Stable Outlook, BelTA learned from the press service of the bank.

“S&P Global Ratings has affirmed the Long- and Short-Term Issuer Default Ratings of the Development Bank of Belarus at ‘B-/B’ (Outlook Stable), which is totally aligned with the sovereign rating,” the press service said.

According to the Development Bank, the agency underlined in its release the close ties between the Development Bank and the Government of Belarus, the Bank's important role in achieving the public policy goals through the allocation of long-term loans to finance state programs and implement other socially-important functions.

Founded in 2011, the Development Bank of the Republic of Belarus is a specialized financial institution operating as a stock corporation. The founders of the bank are the Council of Ministers and the National Bank of Belarus. The bank has been tasked with financing long-term and capital-intensive investment projects, state programs and activities.