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Four Russian banks grant $200 million syndicated loan to Belarusian finance ministry

Four Russian banks have provided a syndicated loan in the amount of six billion Russian rubles (some $200 million) to the Belarusian finance ministry, RIA Novosti reported on December 30 with reference to a joint statement issued by the banks.

The ministry will use the loan to “develop integration and cooperation ties between the two countries and ensure the sustainable economic growth of the Republic of Belarus,” says the statement of Sberbank, Gazprombank, Alfa Bank and Bank for Development and Foreign Economic Affairs.

Belarus is a major trade and economic partner for Russia, the statement says.

The loan’s repayment period exceeds 12 months, according to the report.

As part of the loan deal, the four banks will organize the placement of 15 billion Russian rubles worth of the Belarusian government’s bonds in the Russian market.

German Gref, chairman of the Sberbank board, announced earlier this month that Russia’s banks might give a syndicated loan to Belarus. //BelaPAN