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Lukashenka discusses establishment of state financial agency with government officials, bankers

Alyaksandr Lukashenka on Tuesday directed that the government should finalize papers regarding the establishment of a state financial agency "in the near future."

The Belarusian leader made the remark at a meeting with Prime Minister Syarhey Sidorski, National Bank Chairman Pyotr Prakapovich and the CEOs of the country's two largest banks, Belahraprambank and Belarusbank, BelaPAN reports.

He asked the officials to provide arguments justifying the establishment of the agency and stressed that "if banks simply want to make their life easier and stop carrying out state programs, this is incorrect as mostly state banks engage in such programs." "If banks want to raise their attractiveness, especially in the eyes of foreign partners, draw loans through this, I understand it," the press office quoted him as saying. "But where is the guarantee that we will make our banks much more attractive by establishing the agency? No one can give such guarantees so far."

Mr. Prakapovich said at the meeting that the agency would take over the function of dealing with problem loans under state programs.

The agency is needed for securing the banking sector's stable and sustainable performance.