OREANDA-NEWS. April 15, 2011. Eurasian Development Bank (EDB) and Belpromstroibank signed Memorandum of Cooperation when funding investment projects. The document has been signed by EDB Management Board Chairman Gennadiy Zhuzhlev and Belpromstroibank Management Board Chairman Vasiliy Matyushevskiy, reported the press-centre of KASE.

The Memorandum is aimed at extension of business cooperation between banks and efficient use of capacity on extension of funding volumes, including EDB funding of investment projects in Belarus, joint projects of investment projects of Belarusian enterprises and EDB member countries.

Key areas of cooperation include organization of funding and co-funding of investment projects of Belarusian enterprises, information exchange on investment projects funding, expertise and counseling of projects participants. Specific terms of participants involvement into cooperation shall be discussed separately on each project and specified in appropriate agreements between parties.

We remind that in December 2010, EDB signed with Belpromstroibank a loan agreement to the amount of USD25 mln to fund small and medium size businesses funding and a framework agreement on renewable credit line in the size of USD 25mln to fund export-import trade operations of this bank clients.