21.12.2007, 19:14
Priorbank and EBRD Signed USD 20 Mln Loan Agreement
OREANDA-NEWS. December 21, 2007. Priorbank and the European Bank for Reconstruction and Development signed a Loan Agreement to the principal amount of USD 20 million with a tenor of 4 years for the development of the private micro, small and medium enterprise sector in the Republic of Belarus, the press service of the bank reported. A similar MSE/SME USD 10 mln loan facility was granted to Priorbank by the EBRD in 2004.
"The considerable demand of the private micro, small and medium enterprises to the credit resources encouraged us to increase the financing of this sector," said Sergey Kostyuchenko, CEO of Priorbank.
Twelve years of successful cooperation enabled Priorbank to contribute to the development of SME business in Belarus, rendering various services to the sector – short- and long-term credit lines, working capital financing, investments, guarantees, letters of credit.
For the moment the EBRD's total funding to Priorbank amounted to more than USD 246 mln.
Priorbank, JSC is a member of RZB-Group and a subsidiary of Raiffeisen International Bank-Holding AG (Raiffeisen International). Raiffeisen International is a fully consolidated subsidiary of Vienna-based Raiffeisen Zentralbank Oesterreich AG (RZB). RZB holds 68.5 per cent of Raiffeisen International's shares, the balance is free-float and traded on the Vienna Stock Exchange .
Prirobank, JSC was founded in January, 1989. The major shareholders of the bank are Raiffeisen International /63.05% and European Bank for Reconstruction and Development /13.5 %/.
According to "The Banker" magazine, Priorbank became The Bank of the Year in Belarus in 2003, 2004 and 2005. "Global Finance" named Priorbank the Best Bank of Belarus and the Best Foreign Exchange Bank in Belarus in 2004, 2005 and 2006. "Euromoney" magazine awarded Priorbank the Best Bank in Belarus 2005 and 2006. The European Bank for Reconstruction and Development within its Trade Facilitation Programme granted Priorbank to be "Most active Trade Finance Bank in Belarus in 2006".
"The considerable demand of the private micro, small and medium enterprises to the credit resources encouraged us to increase the financing of this sector," said Sergey Kostyuchenko, CEO of Priorbank.
Twelve years of successful cooperation enabled Priorbank to contribute to the development of SME business in Belarus, rendering various services to the sector – short- and long-term credit lines, working capital financing, investments, guarantees, letters of credit.
For the moment the EBRD's total funding to Priorbank amounted to more than USD 246 mln.
Priorbank, JSC is a member of RZB-Group and a subsidiary of Raiffeisen International Bank-Holding AG (Raiffeisen International). Raiffeisen International is a fully consolidated subsidiary of Vienna-based Raiffeisen Zentralbank Oesterreich AG (RZB). RZB holds 68.5 per cent of Raiffeisen International's shares, the balance is free-float and traded on the Vienna Stock Exchange .
Prirobank, JSC was founded in January, 1989. The major shareholders of the bank are Raiffeisen International /63.05% and European Bank for Reconstruction and Development /13.5 %/.
According to "The Banker" magazine, Priorbank became The Bank of the Year in Belarus in 2003, 2004 and 2005. "Global Finance" named Priorbank the Best Bank of Belarus and the Best Foreign Exchange Bank in Belarus in 2004, 2005 and 2006. "Euromoney" magazine awarded Priorbank the Best Bank in Belarus 2005 and 2006. The European Bank for Reconstruction and Development within its Trade Facilitation Programme granted Priorbank to be "Most active Trade Finance Bank in Belarus in 2006".
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