The Council of Ministers has ordered, through Resolution No. 372, compensation for losses incurred by Belagroprombank from providing an export loan to OJSC Belarusian Steel Works – Management Company of the Belarusian Metallurgical Company Holding. The document was published today on the National Legal Internet Portal.
The loan is intended to finance the production of goods that will subsequently be sold to non-resident companies. It is being provided as a revolving credit line with a maximum outstanding balance of 2.65 billion Russian rubles. Compensation for the loan amounts to four-fifths of the key interest rate set by the Central Bank of Russia.
Compensation for the losses will be paid to Belagroprombank during the period from 2026 to 2029.
It should be noted that Belagroprombank had already provided BMZ with a similar credit line in 2023–2024. Its size also amounted to 2.65 billion Russian rubles, while the compensation rate was set at two-thirds of the Central Bank of Russia’s key interest rate.
From 2024 to 2027, the government also compensated Belarusbank for losses on an export loan provided to BMZ in the form of a 1.8 billion Russian ruble credit line at a rate equal to two-thirds of the Central Bank of Russia’s key interest rate.
