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Support of export by Development Bank

In accordance with the Decree of the President of the Republic of Belarus of 21.06.2011 № 261 “On establishment of joint stock company “Development Bank of the Republic of Belarus” one of the primary objectives of the Development Bank is promotion of export through its financial support.

The Development Bank provides financial support of export within the framework of the Decree of the President of the Republic of Belarus of 25.08.2006 № 534 “On the promotion of exports of goods (works, services)” (hereinafter referred to as Decree № 534) by means of:

  • financing companies not residents of the Republic of Belarus for payment for goods(works, services) realized by residents; 
  • financing non-resident banks with a view of their subsequent financing of customers for payment for goods(works, services) realized by residents; 
  • export supplies financing under international leasing terms through OJSC “Promagroleasing”.

Terms and conditions of export credit granting:


  • in foreign currency (except for Russian Ruble) – at commercially oriented interest rates CIRR (current rates amount to 2,28% per annum on credits in US Dollars and  0,73% on credits in Euro with a 5-year credit period); 
  • in Russian Ruble - at 2/3 of the refinancing rate of the Central Bank of the Russian Federation (current interest rate on credit amounts to 7,33% per annum).

Financing period:

  • up to 5 years;
  • when large-scale investment projects are concerned – up to 10 years.

Amount of credit:

  • No less than 1 mln. US Dollars (or an equivalent in other currencies).

Credit recipient’s own participation in the project should be

  • no less than 15% of the contract cost.

Requirements to credit recipient:

  • financial stability, the ability to provide a collateral.

Other conditions of export credit granting:

  • One of the obligatory conditions of export credit granting is insurance of export risks with State support by BRUEEII ”Eximgarant of Belarus” (in accordance with the Decree № 534). The cost of insurance, expenses on which are to be borne by credit recipient, depends on several factors, namely: country of supplier’s domicile, tenor of the loan, availability of collateral, etc. and averages to 1-4% per annum.

Total debt expenses borne by credit recipient consist of interest on credit and insurance expenses.

The Development Bank ranks high in the Belarusian market in terms of export crediting of non-residents of the Republic of Belarus. The advantage of working with the Development Bank in this area in comparison with other Belarusian banks is the existence of a codified simplified procedure of export credits granting.

Both state and private owned countries can be credit recipients.

In order for export credit application to be considered, the full set of documents is required.

The Development Bank actively promotes interbank cooperation based on the agreements reached with foreign banks that help to speed up the procedure of export credit granting.

Financing of Belarusian exports can be organized with the help of international financial leasing mechanism through the Bank’s subsidiary – OJSC “Promagroleasing”, the leading national leasing provider in the Republic of Belarus.

Major factors determining terms of financing and an annual interest rate on international leasing contract for a foreign lessee are: transaction amount, country risk, peculiarities of a chosen international leasing scheme, lessee’s financial standing and type of the additional collateral. For more information on conditions of international leasing visit OJSC “Promagroleasing” official site – www.pal.by.

Thus, the Development Bank realizes the following schemes of organizing export financing:

Scheme of export credit granting to the customer
Scheme of interbank export credit granting
Scheme of international leasing with OJSC “Promagroleasing”

For additional information on methods and mechanisms of export financing, you may watch  the Bank’s presentation or contact bank employees:

Gennadi Khomitch
(Head of export financing)
Tel. +375 17 239 11 43
E-mail: homich.g@brrb.by

Alexander Savitskiy
(Chief Specialist of export financing)
Tel. +375 17 309 68 33
E-mail: savitskiy.a@brrb.by

Vyatcheslav Chirak
(Chief Specialist of export financing)
Tel. +375 17 309 68 32
E-mail: chirak.v@brrb.by

Pavel Kouchouk
(Chief Specialist of export financing)
Tel. +375 17 309 68 57
E-mail: kuchuk.p@brrb.by

Elizaveta Bolshinskaya
(Chief Specialist of export financing)
Tel. +375 17 309 68 78
E-mail: bolshinskaya.e@brrb.by


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