EBRD to assist privatisation of Moscow-Minsk Bank

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October 03, 2016 10:36
Photo: www.belta.by

According to the memorandum signed by the National Bank of Belarus and the European Bank for Reconstruction and Development, EBRD will provide financial and technical assistance to OJSC "Moscow-Minsk Bank" in the privatization process to be completed by January 1st, 2020. EBRD will open a credit line of up to EUR 20 million and may become one of the bank’s shareholders. If the project is a success, foreign investors are likely to increase the interest in Belarusian assets. As well, interest rates for SMEs may reduce, and the state may reduce its share in the banking sector, while the National Bank would preserve full control over it. Nevertheless, the state will not give up a controlling stake in systemically important banks, and would sell a blocking stake only to major international banking structures.

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