OREANDA-NEWS.  February 2, 2012. State Corporation ‘Bank for Development and Foreign Economic Affairs (Vnesheconombank)’ and OJSC Belvnesheconombank signed an interbank agreement in Moscow as part of implementing the Agreement between the Government of the Russian Federation and the Government of the Republic of Belarus on Extending a State Export Credit to the Belorussian Government for the Construction of a Nuclear Power Plant on the territory of the Republic of Belarus dated November 25, 2011.

Under the intergovernmental agreement the credit is to be extended for a total amount of up to 10 billion US dollars for a period of 25 years to finance 90% of each agreement’s value between Russia’s CJSC Atomstroiexport and Belarus’ state institution the Directorate for the Nuclear Power Plant Construction. In connection to this, the credit resources are to be used as these agreements are signed.

Vnesheconombank as the agent bank for the Russian Government is to be responsible for conducting banking documentary transactions associated with paying accounts to be drawn up by Russia’s organization on account of the credit, keeping records of the Belarusian debt and making payments on the credit.

Belvnesheconombank as the agent bank for the Belarusian Government is to be responsible for conducting all banking transactions associated with obtaining, servicing and repaying the Russian state credit by the Belarusian side.

Moreover, Belvnesheconombank is planning to participate in lending to Belarusian companies involved in performing work and supplying materials for the construction of a nuclear power plant.