On March 17, 2015 in Minsk Sergey Shaban, Deputy Chairman of the Board of Belgazprombank, and Marck Wengrzik, Managing Director of AKA Ausfuhrkredit-Gesellschaft mbH, signed the basic agreement according to which Belgazprombank can attract long-term loan facilities from AKA covered by Euler Hermes and other export credit agencies.
On March 17, 2015 in Minsk Sergey Shaban, Deputy Chairman of the Board of Belgazprombank, and Marck Wengrzik, Managing Director of AKA Ausfuhrkredit-Gesellschaft mbH, signed the basic agreement according to which Belgazprombank can attract long-term loan facilities from AKA covered by Euler Hermes and other export credit agencies.
From the funds received Belgazprombank will finance projects relating to the purchase of machinery, equipment, appliances, manufacturing stations, products of chemistry industry and other capital goods from Germany and other EU countries. The tenor of the loan may vary from 2 to 10 years depending on the type of goods to be delivered.
The basic agreement creates infrastructure which can provide access to funding of almost any institution in Europe. While AKA may act as a single lender, the loan may be syndicated by AKA with one or more of its shareholders or other banks focused on supporting different sectors of economy. Such scheme of cooperation allows to increase significantly the range of foreign trade projects which can be financed under the basic agreement.
The basic agreement signed with AKA Ausfuhrkredit-Gesellschaft mbH also diversifiesinstruments used by Belgazrpombank to provide financing support to its customers. Access to long-term credit facilities covered by various national export credit agencies is an excellent opportunity to implement large investment and infrastructure projects. Belgazrpombank can offer its customers competitive conditions for the implementation of such projects and provide consultancy support in choosing the most effective trade financing structure.
AKA Ausfuhrkredit-Gesellschaft mbH is a consortium of German banks. It was established in 1952 as a service provider for its shareholders for the purpose of financing export transactions. At present its shareholders include 19 leading financial institutions domiciled in Germany. AKA Ausfuhrkredit-Gesellschaft mbH is a banking credit organization supporting foreign trade under the insurance coverage of most national export credit agencies of EU.