New opportunities for customers of Belgazprombank to receive long-term financing

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On December 16, 2014 Belgazprombank and Commerzbank AG signed the Basic Loan Agreement which gives Belgazprombank an access to long-term financing provided by the German bank under coverage of export credit agencies.

New opportunities for customers of Belgazprombank to receive long-term financing

The attracted financing facililites will be used by Belgazprombank to support the purchase by Belarusian companies of industrial equipment, machinery, capital goods, works and services from Germany, France, the Czech Republic and other countries of the European Union.

During the signing ceremony, Sergey Shaban, Deputy Chairman of the Board of Belgazprombank, thanked Commerzbank AG for successful long-term cooperation in trade finance and said that the expansion of cooperation with Commerzbank AG involving new instrument will enhance the opportunities of Belgazprombank to support new projects of the Belarusian companies. He further noted that long-term ECA-covered financing will be an excellent opportunity for the Bank's customers to implement important investment projects. On behalf of Commerzbank AG, Ralph Lerch, Head of Export Finance, expressed confidence that the singing of the agreement will diversify possibilities of both financial institutions to support long-term investment projects of their customers, and will in general promote exports of goods to the Republic of Belarus not only by German manufacturers, but also by manufacturers from other European countries.

Belgazprombank, established in 1990 and controlled by Russia’s Gazprom Group, occupies a leading position in lending to small and medium enterprises.

Commerzbank AG, established in 1870, is at present one of the largest banks in Germany and Europe. The banking group of Commerzbank AG is represented in 50 countries, including Belarus, and renders services to more than 15 million retail customers and more than 1 million corporates. The bank is one of the world’s leaders in performing documentary operations and providing clearing services. 

On December 19, 2014 Belgazprombank opened a correspondent account in Chinese yuans with Bank of China. Earlier, in September this year Belgazprombank opened correspondent accounts in Chinese yuans and US dollars in another Chinese bank, Agricultural Bank of China. 

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Belgazprombank was honored by Commerzbank AG with a Trade Award 2013 for high results in foreign trade financing achieved in cooperation with the German bank in 2013. This prize presented in Belarus for the first time also witnesses the recognition by the German bank of the high quality of trade finance services provided by Belgazprombank to its customers.

Belgazprombank received the Gold Award of the Banking Association for Central and Eastern Europe (BACEE) in the annual report competition.

On October 7, the Lithuanian Art Museum hosted the media preview and presentation of a documentary and educational television project “Belarus-Born Artists of the School of Paris. It was dedicated to the beginning of broadcasting on the Lithuanian television of the TV series of the same name consisting of 7 films.

IV International Theatre Forum TEART will take place in Minsk from September 27 to October 22, 2014. The audience will see 21 performancesin two programmes – international and additional off-programme “Belarus Open. Organisers of the forum are ART Corporation Visual and Performing Arts Centre and Belgazprombank OJSC, with the support of the Ministry of Culture of the Republic of Belarus.General partner is Gazprom Transgaz Belarus OJSC.

On August 28, 2014 Belgazprombank and Eurasian Development Bank (EDB) signed the USD 10 million loan agreement with five years of maturity. This is the first project committed by EBD under its new Programme on development of agricultural sector adopted in 2013.

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Non-application of OFAC sanctions to Belgazprombank (“Bank)

On April 18, within the framework of the official visit to the Republic of Belarus, Director General of the United Nations Educational, Scientific and Cultural Organization (UNESCO) Irina Bokova visited the National Art Museum of the Republic Belarus.

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Such a great event – the exhibition ‘Ten centuries of Art in Belarus’ happens in our country once in a thousand years – told Uladzimir Prakaptsoŭ, the General Director of the National Art Museum at the official opening of this event.

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