- EBRD local currency loan of €25 million-equivalent to support Belarusian SMEs
- Priorbank to promote EBRD local currency SME lending scheme
- Loans with longer maturities and no FX-related risks
Small and medium-sized enterprises (SMEs) in Belarus will be able to grow, increase their turnover and sales thanks to a new credit line provided by the EBRD to Priorbank. A local currency facility equivalent to €25 million will help domestic small businesses avoid exchange rate-related risks and will offer longer maturities than otherwise available in the market.
Priorbank is the largest privately-owned financial institution in Belarus and a member of Raiffeisen Bank International. It has a well-developed network across the country and has been one of the EBRD’s key partners in promoting new products and programmes for over 20 years.
The EBRD is committed to promoting the development of the private sector in Belarus. This year alone, the Bank to date has invested an all-time record amount of €380 million through 23 projects in the country, out of which 14 were in the private sector.
Since the start of its operations in Belarus in 1992, the EBRD has invested almost €2.7 billion in 119 projects in various sectors of the country’s economy.