This project marks the successful start of cooperation to support the export of Russian-Belarusian products to third countries in a new format.
Vnesheconombank (VEB) of Russia will provide AMMC with a $59 million loan for a period of 5 years for purchasing BelAZ mining dump trucks, the VEB press service reports.
“VEB.RF will provide the Almalyk MMC with financing for purchasing BelAZ mining dump trucks for the modernization of the mining and metallurgical combine in Uzbekistan. The amount of financing is estimated at $59 million,” the report reads.
VEB Deputy Chairman Daniil Algulyan noted that this is the first deal of a new format of cooperation between Russia and Belarus.
“VEB.RF provides the buyer with a long-term loan, the interest rate on which will be subsidized from the Belarusian budget. The implementation of this project became possible thanks to the effective cooperation of the governments of the two countries and financial institutions,” he added.
It is noted that the BelVEB bank acts as the agent of the Belarusian government in subsidizing the interest rate of VEB.
This project, according to the Board Chairman of BelVEB Vasily Matyushevsky, marks the successful start of cooperation to support the export of Russian-Belarusian products to third countries in a new format. Its implementation became a logical continuation of the long-term cooperation of banks in the field of financing and confirms the broad possibilities of states to assist in the promotion of joint products.