On March 13, 2014 Francis Delaey, Head of EBRD Representative Office in Minsk, and Sergey Shaban, Deputy Chairman of the Board, Belgazprombank, signed the EUR 20 million loan agreement related to the business mortgage facility with seven years of maturity.
The loan proceeds will be used to support small and medium enterprises in implementation of projects related to construction, renovation or acquisition of commercial real estate (including office premises, warehouses, manufacturing or retail facilities, industrial and agricultural premises, greenhouses).
The loan executed between the EBRD and Belgazprombank is the first of its type in the EBRD’s countries of operations.
- We are delighted to sign the business mortgage financing facility with Belgazprombank, one of our main partner banks in Belarus, - pointed out Francis Delaey, Head of EBRD Representative Office in Minsk. - This novel product responds to an unsatisfied demand for long-term funding for real estate investments and represents an important step towards creating more conducive operating conditions for local enterprises.
- This is the first credit facility secured for Belarusian economy with a purpose of financing of business mortgages, - emphasized Sergey Shaban, Deputy Chairman of the Board, Belgazprombank. – The today’s transaction demonstrates acknowledgement of advanced skills in project finance in Belgazprombank by the EBRD experts. On the other hand, it provides the bank with an excellent opportunity to finance its clients’ projects for adequate tenors. Promoting private business initiative requires financial support for construction or acquisition of commercial and business premises by small and medium enterprises. Affordable long term funding is an important condition to achieve this objective. We are grateful to EBRD for choosing our bank as a partner for development and implementation of this novel project.
Belgazprombank has begun its cooperation with EBRD in 1996 and at the moment is one of the main partners of EBRD in the Republic of Belarus.
Belgazprombank, established in 1990 and controlled by Russia’s Gazprom Group, occupies a leading position in lending to small and medium enterprises.
During the presentation of the portrait of Tomash Zan by the Belarusian artist Valenty Vankovich Vladimir Prokoptsov, Director General, the National Art Museum of the Republic of Belarus, highlighted the significant contribution of Belgazprombank towards fostering cultural heritage of our country and invited everyone to visit the exposition “Ten Centuries of Art in Belarus" at which the picture for the first time will be demonstrated to wide audience.
In the framework of the signing ceremony the exclusive pre-show of the portrait of Tomash Zan by the Belarusian artist Valenty Vankovich, the pearl of the corporate collection of Belgazprombank took place. This is the only piece of work by the prominent Belarusian artist currently returned to its historical homeland. For this reason it was the Vankovichi Mansion House which was chosen for signing of the loan agreement.
The experts from the Russian State Museum who were involved in verification of the authenticity and authorship of the picture pointed out to the great historical and artistic value of the portrait.
Tomash Zan (1796-1855) went down in history of Belarus as the participant of the liberty movement, environment scientist, writer, Romantic movement poet. He had established the secret Philomath Society in Vilnius and played significant role in the development of the new literary school – the so-called revolutionary Romantic movement.
The portrait of Tomash Zan will be exposed to wide audience during the exposition “Ten Centuries of Art in Belarus" whose solemn opening will take place on March 27 at the National Art Museum of the Republic of Belarus.
