Resolution of the Council of Ministers

from 19.01.2012

№ 57

Belarus, Sberbank to sign supplemental agreement on loans to buy Belarusian goods in Russia

The Belarusian Government and Sberbank are set to sign a supplemental agreement to the agreement on the issue of loans to buy Belarusian goods in Russia. Such a decision is contained in the Council of Ministers’ Resolution No. 57 of 19 January 2012.

The agreement between the Government of the Republic of Belarus and Sberbank on the issues of loans to purchase goods produced in the Republic of Belarus in the Russian Federation was signed 9 October 2009.

Finance Minister Andrei Kharkovets, Industry Minister Dmitry Katerinich and chairman of the board of BPS-Sberbank Vasily Matyushevsky have been authorized to hold negotiations with Sberbank of Russia.

A reminder, the agreement was signed in 2009 to implement Decree No. 466 of September 24 2009 “Concerning Certain Measures for Sales of Goods Produced in the Republic of Belarus”.

According to the document, Belarus compensates a part of the interest on the loans issued to the buyers of Belarusian goods abroad. The document is aimed to create favorable conditions to advance Belarusian goods to the foreign market and increase the country’s currency earnings.

The decree establishes a possibility to compensate by the Belarusian national budget of a part of the interest on the loans issued by the banks of the states with which Belarus has no customs control. The group of Belarusian goods eligible for purchase under the scheme include transport vehicles, trolleybuses, tractors, combine harvesters and many more.​

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