OREANDA-NEWS. August 13, 2012. Belarus’ President Alexander Lukashenko has arranged to provide for major wood processing companies of the state-run Bellesbumprom Concern 110.1 million euros in additional credit support.

The extra funds are intended to assist wood processing mills in finalizing equipment upgrade projects, which were suspended as a result of the financial crisis of 2011.

The list of credit recipients includes Mozyr DOK, OJSC Borisovdrev, VItebskdrev, Gomeldrev, Ivatsevichdrev, Mogilevdrev, Mostovdrev, Rechitsadrev and FanDOK.

Loans will be provided by BPS-Sberbank, OJSC Belarusbank, OJSC Belinvestbank, OJSC Belagroprombank. The Belarusian government’s security coverage for the loans provided stands at EUR801.9 million.

The equipment upgrade projects will enable Belarus to substitute imports of chipboard and fiberboard materials.