OREANDA-NEWS. OAO Belarusbank, Belarus' largest commercial bank, has drawn a EUR 10.6 million a tied loan from Polish Bank Gospodarstwa Krajowego for OAO Grodno Meat Packing Plant.

The Grodno factory will use the money to finance a project to build a smoked raw meat plant. The new meat packing facility will be built, equipped and fine-tuned by Poland's Promar Przedsiebiorstwo Produkcyjno Handlowe Sp. z o.o.

Belarusbank was founded in July 1991 and merged with Belarus' Sberbank in October 1995. The state holds a 99.7% share in the bank's statutory capital.

Fitch Ratings affirmed December 4, 2013 Belarusbank's Long-term Issuer Default Ratings (IDRs) to 'B-'; Outlook “Positive”.

Standard & Poor's Ratings Services confirmed April 30, 2013 Belarusbank's short-term and long-term counterparty credit ratings at 'B-/C'. On November 1, 2013 S&P downgraded its outlook on Belarusbank from “Positive” to “Stable”. End

Established in 1972, OAO Grodno Meat Packing Plant is capable of manufacturing around 1,500 tonnes of sausages per month. The meat plant products over 450 kinds of meat products. Exports account for 25% of total output.