EDB will allocate up to US $ 100 million to finance working capital and investment program of Belaruskali

In the presence of the Prime Minister of the Republic of Belarus, a loan agreement was signed between the Eurasian Development Bank and Belaruskali on financing working capital and the investment program of Belaruskali in the amount of up to $ 100 million, the message posted on the EDB website said

At present, Belaruskali OJSC is implementing the most ambitious project in its history for the construction of the Petrikovsky mining and processing plant. The project contributes to an increase in the output of potash fertilizers. In addition, the project has significant socio-economic effects for the Republic of Belarus. In 2019 alone, more than 500 jobs will be created.

Belaruskali is one of the key partners with which the EDB has been cooperating since 2011. The bank is pleased to continue joint cooperation. The project is being implemented in the priority sector for the bank - the chemical industry, according to the Strategy for 2018-2022, ”said the EDB Chairman of the Board Andrei Belyaninov.

General Director of Belaruskali OJSC Ivan Golovaty stressed that the agreement was structured in the shortest possible time in the form of an unsecured loan on comfortable terms for the borrower.

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The Eurasian Development Bank (EDB) is an international financial institution established by Russia and Kazakhstan in January 2006 with the aim of promoting the development of the market economy of the member states, their sustainable economic growth and the expansion of mutual trade and economic ties. The authorized capital of the EDB is $ 7 billion. The Bank’s member states are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation and the Republic of Tajikistan.

Belaruskali OJSC is one of the largest producers and exporters of potash fertilizers in the world. According to the International Fertilizer Association, it accounts for one fifth of the global production of potash fertilizers. Belaruskali OJSC manufactures products that meet the highest requirements and are marked with prestigious international awards. These facts allow the enterprise to successfully compete with foreign manufacturers and export its products to more than 120 countries of the world. Every year Belaruskali OJSC increases production volumes, retains traditional sales markets, leaves and consolidates on others, develops and manufactures new products. Having a sufficient natural raw material base, high production potential of workers and specialists, the company copes with these tasks, steadily increasing production efficiency, introducing new equipment and improving technological processes. This difficult and versatile activity is carried out on the basis of the concept of sustainable development of the potash industry of the Republic of Belarus. 100% of the shares of Belaruskali belong to the Republic of Belarus.

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