Russian Agricultural Bank has become Belinvestbank’s new partner in foreign trade financing, setting up a limit of RUB 800 million for the confirmation and financing of letters of credit, issues and reimbursement undertakings, BelTA learnt from the Belarusian bank.

“Belinvestbank continues actively developing international cooperation with foreign financial institutions, paying close attention to the expansion of the range of products and services in trade finance transactions and foreign trade financing,” the bank said. The limit set by Russian Agricultural Bank in July 2013 opens up additional opportunities for clients to get funds for foreign trade projects as well as to structure contacts with the use of foreign trade financing instruments, a widely used international banking practice.

Russian Agricultural Bank is one of the biggest banks in Russia. Founded in 2000 with an aim to develop the national credit and financial system of the agro-industrial sector and rural areas of Russia, today it is a universal commercial bank that provides all kinds of banking services and takes the leading positions in financing the agricultural industry of Russia. Russian Agricultural Bank is among the biggest and most stable banks of Russia in what concerns assets and capital.

Belarusian Bank of Development of Reconstruction (Belinvestbank) was founded on 3 September 2001 as a result of reorganization following the merger of Belbiznesbank and Belarusian Development Bank. Belinvestbank is an authorized bank to service the state programs, accumulates investment resources of the state, and services credit lines of foreign investors. The public sector's share in the authorized capital of Belinvestbank is 96.25%.