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VEB to finance deliveries of UAZ cars to Belarus

In Minsk, Vnesheconombank, Development Bank of the Republic of Belarus (DBRB), Belvnesheconombank (BelVEB, VEB Group) and Ulyanovsk Automobile Plant (UAZ) signed a cooperation agreement to promote deliveries of Russian motor vehicles to the Republic of Belarus.

For Vnesheconombank, the Agreement was signed by the Senior Vice President for Export Finance and Documentary OperationsDaniilAlgulyan, for DBRB – the First Deputy Chairman of the management Board Tatiana Sosnovskaya, for Belvnesheconombank – by the Deputy Chairman of the Management Board Oleg Korobyin, and for UAZ – by the Director for Exports Andrey Dorofeev.

The parties to the Agreement consider various methods to arrange financing and/or co-financing for deliveries of UAZ vehicles to the Republic of Belarus, in particular, credit and leasing facilities.

The Agreement is designed to encourage and promote bilateral trade and economic cooperation between Russia and Belarus and expand exports of the Russian carmaker.

To quote DaniilAlgulyan: “In recent years, the export potential of Russian manufacturers has significantly increased. Russian exporters tap into new product ranges and acquire experience of operating abroad. Decline in the ruble has also contributed to the competitive price advantage of domestic products. Our objective is to support Russian exporters and facilitate foreign market access for Russian goods”.


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