MINSK – The European Bank for Reconstruction and Development (EBRD) is extending an unsecured loan in Belarusian rubles equivalent to 7 million euros to Belarusky Narodny Bank or BNB Bank, which is a subsidiary of Bank of Georgia, the EBRD said.
The loan is being issued for on-lending to local private micro, small and medium-sized enterprises.
The project “is in line with the Belarus country strategy, which is prioritizing access to finance for the private sector as well as the promotion of local currency lending in the country,” the EBRD said.
The EBRD also said the project would facilitate adaptation to operating problems caused by the COVID-19 pandemic and the continuation of sustainable lending to small businesses in the local currency.
