Belarusbank to raise $200mn in foreign loans in H2

Belarusbank plans to attract at least $200 million worth of loans from foreign financial institutions in the next six months, Chairperson of the Board of Belarusbank Nadezhda Ermakova told reporters on 7 July. 

In H1 Belarusbank concluded 20 loan agreements with foreign banks to the total amount of $150 million. These funds have not been fully utilized yet. 

Another 30 projects at the total amount of $400 million are in progress. “It is unclear whether all these projects would be adopted. But I think we will undoubtedly attract at least $200 millions more,” said Nadezhda Ermakova. 

Speaking on the cost of the borrowings, Nadezhda Ermakova said that the loans have become more expensive by 2-3% this year.