Sbierbank offers a billion dollar credit without securities

The biggest Russian bank agreed to give a billion dollar loan to Belarusian potassium fertilizers producer Belaruskaliya. The credit was supposed to be secured by the companies shares, but the condition was canceled informed Belarusian deputy prime minister Sirkhey Rumas. The new agreement is supposed to “stabilize the currency market in Belarus”.

On August 5th the director of Sbierbank, Mr. German Gref informed that his bank together with Deutschebank can offer 2 billion dollars loan in exchange for export agreements and 35% of companies shares. “For Belarus, it is definitely a difficult time, but for us this is a reliable, good credit. – said Mr Gref. – All of it is being processed in accordance with international standards and in agreement with our western partners – he added.

But on August 18th, the director of Belaruskaliyaaleriy Kryenko announced that Belarus does not accept the credit coconditions set by Sbierbank and Deutschebank.


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