OREANDA-NEWS. OAO Promagroleasing, a Belarus-based leasing company, plans to procure Br480 billion worth of forestry equipment and forest farming machinery in 2014 (USD 49.484m). The equipment will be subsequently provided to forest farmers on lease contracts with a purchase option.

Lease deals will be facilitated in partnership with OAO Belarus Development Bank.

The advance payment shall be at least 10% of the contract value of the equipment. Lease rates are only 1% higher than interest rates on similar credit offers.

Established in 2001, OAO Promagroleasing was given a status of Belarus' national leasing operator in 2009. OAO Promagroleasing has a shareholding structure that includes Belarus' State Property Management Committee, Belarus' export import insurance company Beleximgarant, Belarus' national reinsurance company and OAO Belgaroprombank. In March 2013 the Government of Belarus surrendered a 62.5% stake (USD 875m) in OAO Promagroleasing company to the Development Bank of Belarus.