OREANDA-NEWS. March 25, 2010. Sberbank of Russia is ready to lend several hundred million of dollars to major Belarusian companies within the next few months, said Sberbank Chairman of the Board German Gref as he met with Prime Minister of Belarus Sergei Sidorsky.

“The present situation favors our operation in Belarus. Our bank has extensive spare resources and we will be able to lend several hundred million dollars to Belarus’ largest companies in the next few months,” said German Gref.

In addition, Sberbank has started working with Russia’s provinces, in particular, Moscow for the sake of providing lending support to Russia’s import of Belarusian machines. The implementation of leasing projects relating to sales of Belarusian products has begun.

Sberbank’s head told Sergei Sidorsky: “I wish I could complain to the head of Government but there is nothing to complain about. Our cooperation is effective.” “It is the beginning. We are ready to take our relations as far as possible,” stressed German Gref.

According to Sberbank’s head, Sberbank is now part of the Belarusian market. The entry stage has finished, the development stage has begun.

German Gref thanked the President and the Prime Minister of Belarus for cooperation in the complicated crisis time. He was particularly thankful to the National Bank administration for assistance in the Russian bank’s operation in Belarus. “The cooperation with the Belarusian side obliges us to honor our obligations in the proper manner,” said German Gref.

Belarus expects Sberbank of Russia to reduce interest rates for loans to the real sector of the Belarusian economy, Prime Minister of Belarus Sergei Sidorsky told Sberbank Chairman of the Board German Gref.

“We expect Sberbank to work more vigorously in the Belarusian economy and would like it to feel comfortable in our country. We would like it to become one of Russia’s leading banks in Belarus, the leading bank in allocating resources for our country’s real sector and in reducing interest rates [for loans] for the real economy,” said Sergei Sidorsky.

“We are satisfied with the progress in cooperation with your bank. Sberbank’s capital is getting deeper into Belarus,” said Sergei Sidorsky. He expressed hope that the existing agreements with Sberbank will be fulfilled and new ones will be reached. In particular, Sergei Sidorsky said that the RUB6 billion granted by Sberbank is now effectively used in the Belarusian economy.