OREANDA-NEWS. September 11, 2012. Belarus’ Development Bank will provide Br300 billion (USD 35.8 million) in loans to state-owned agencies concerned for the purchase of soil reclamation equipment.

The equipment will be leased out to Belmeliovodkhoz farms.

The loans must be repaid by January 1, 2020 at 7.5% per annum.

Launched in 2011, the Development Bank incorporates over Br2 trillion (USD 241.5 million) worth of the assets of Belarusbank and Belagroprombank. The bank was established to finance priority projects and government programmes. At the moment, the bank is busy forming its credit portfolio.