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Alfa-Bank is planning to finance oil import for Naftan

Alfa-Bank (Belarus ) to finance oil import for Belarusian companies

Amsterdam Trade Bank (the ) and Naftan (Belarus ) signed an agreement on a revolving line of the credit for one year. The credit line was organized by Alfa-Bank. 

The total sum of the credit line for Naftan is €30 million. The funds will be used to purchase crude oil from European suppliers, including from . This is direct lending of Naftan by Amsterdam Trade Bank. The drawdown period is two months which dovetails with the economic cycle of the company. 

In April this year, Alfa-Bank managing director Alexander Silvestrov announced the bank’s plans to increase an exposure in the market of financing exports of Belarusian oil products. 

As of May 1, 2009, the authorized capital of Alfa-Bank (Belarus ) was Br96.05 billion, up by Br37.8 billion since the beginning of the year, or by 65%.

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