OREANDA-NEWS. December 10, 2010. Eurasian Development Bank (EDB) signed on Monday in Minsk a USD25 m loan agreement for 5 years for financing of small and medium enterprises (SME) in Belarus with Belpromstroibank (BPS-Bank), reported the press-centre of KASE.

The financing is part of EDB's "SME support by providing purpose loan facilities financial institutions" programme.

BPS-Bank will himself select potential sub-borrowers - SME meeting EDB-approved criteria, and provide to them business development sub-loans.

Implementation of the project will promote benign conditions for SME, competitive environment and competitiveness of SME in- and outside, will contribute to development of infrastructure and institutional base for market economy in Belarus.

On November 3 this year, EDB and BPS-Bank signed preliminary terms and conditions of the SME loan facility, which underlie the present agreement.

Last summer, Belarus joined Russia, Kazakhstan, Tajikistan and Armenia thus becoming the fifth member of EDB. At that same time EDB and government of Belarus signed an agreement on conditions of EDB operations in that country.