OREANDA-NEWS  On 08 September was announced, that the Belarusian government approved a new provision on concessional export credit facilities. The new procedure was adopted by joint resolution #1,209/9 of August 21, 2008 of the Council of Ministers and the National Bank in pursuance of presidential ordinance #354 of June 26, 2008.

The provision enables individual entrepreneurs and foreign banks to apply for concessional export loans.

The document specifies the list of documents required to apply for a concessional export loan and includes a justification of the need for a loan, business plan, copies of agreements and contracts, including lease contracts, statement of export risk insurance by state-run Beleximgarant.

State agencies, the Finance Ministry and Beleximgarant will take up to 20 days to make decisions regarding concessional export loans, while previously the timeframe was 60 days.

Presidential ordinance #354 on credit facilities encouraging exports comes into effect on September 8, 2008. Concessional export loans will be available not only to domestic exporters, but also to lessors and non-residents that acquire Belarus-made products. Banks that extend concessional loans will receive compensations.