Privatization in Belarus to speed up

Aleksander Lukashenka is supposed to meet today with German Gref, the director of Sbierbank – the biggest Russian commercial state-owned bank. Gref just recently confirmed that Sbierbank is ready to offer a credit for the purchase of Belarusian potassic fertilizers company Belaruskalij. The buyer interested in acquiring shares in the one of the world biggest potassium companies is Suleiman Karimov, a Russian oligarch.

Andriey Donski, the Sbierbank deputy director, informed that the Russian businesman asked for a loan to purchase shares in Bielaruskalija. He also stressed that the value of the company – estimated to be 30 million dolars by the Belarusian government, needs to be verified.

The information about the meeting between Lukashenka and Gref was not posted on the official presidential website. According to Bielpan news agency, Sbierbank hopes that Belarusian authorities will make the bank their advisor in matters of privatization.

Far-reaching privatization is one of the conditions for Belarus to receive a credit from the Euroasian Economic Commonwealth – an organization of former soviet republics, led by Russia. – The basic aspect of a flow of capital is privatization, that’s why there is a demand that Belarus conducts within next three years a privatization worth 7.5 bilion dollars, 2.5. billion dollars each year. This requirement will certainly be met. – informed Aleksey Kudrin, the Russian Finance Minister, when comenting on the economic help for Belarus.


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