VEB and BelVEB to promote BELAZ exports to third countries

In Minsk, Vnesheconombank, Belvnesheconombank (BelVEB, VEB Group) and BELAZ signed a memorandum on cooperation.

For Vnesheconombank, the Memorandum was signed by the Senior Vice President for ExportFinance and Documentary OperationsDaniilAlgulyan, for Belvnesheconombank – by Deputy Chairman of the Management Board Oleg Korobyin, and for BELAZ – by the Deputy Director General for Financial and Economic Policy Andrei Doronin.

The Memorandum sets out key areas of the parties’ commitment to deliver joint Russian-Belarusian projects, in particular, acquisition by the Belarusian auto group of high-technology products made in the Russian Federation, exports of quarry machinery produced by BELAZ and Russian enterprises on a cooperation basis to third countries, etc. Furthermore, the Memorandum provides for an option to finance projects using syndicated lending facilities and other financial instruments of the VEB Group.

Being a facilitator of cooperation between the parties to the Memorandum, BelVEB together with Vnesheconombank will participate in financial backing for the Russian-Belarusian projects of BELAZ, as well as give advisory, information and administrative support to specific project initiatives.

Press Office