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Belarus Does Not Refuse $2 Bln Sberbank Loan for JSC Belaruskaliy
30.08.2011 12:08
Belarus Does Not Refuse $2 Bln Sberbank Loan for JSC Belaruskaliy

The Belarus authorities do not refuse obtaining a $2 bln loan from Sberbank and Deutsche Bank for the state company Belaruskaliy.

But they try to agree to get the credit on security of export contracts but not the holding of shares as Sberbank asks, said Belarus Prime Minister Mikhail Myasnikovich on Monday.

“We are working on changing terms and conditions, including the right of advanced repayment. This loan might be got on security of export contracts,” said the Prime Minister.

Last week Sberbank and Deutsche Bank offered Belaruskaliy a $2 bln loan on security of export receipts and 35% Belaruskaliy shares.

Belarus can’t get the second credit tranche in the amount of $400 mln out of $3 bln from the Eurasian Economic Community in November.

JSC Belaruskaliy is one of the largest producers of potassium mineral fertilizers in the world.

Author: Irina Fomina

Tags: Belarus Sberbank Russian business   

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