PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of August 25, 2006 No. 534

About assistance to commodity export development (works, services)

For the purpose of creation in the Republic of Belarus of complex incentive system of export I decide:

1. Approve:

The regulations on insurance (reinsurance) of export risks (are applied);

The regulations on procedure for provision of budget advances for payment of insurance indemnities for insurance contracts (reinsurance) of export risks with support of the state (are applied);

The regulations on procedure for compensation of losses to banks from provision of export loans, and also to the banks and the non-bank credit and financial organizations performing financing under concession of monetary claim (factoring) in case of implementation of export contracts (are applied).

2. Insurance of export risks with support of the state on behalf of the Republic of Belarus performs the Belarusian republican unitary enterprise of export-import insurance "Beleksimgarant" (further – Beleksimgarant).

The right to carrying out insurance of export risks is granted to the commercial organizations created for implementation of insurance activity and having licenses for implementation of insurance activity which shall have constantly equity in the amount of at least 25 million Belarusian rubles.

3. "Development Bank of the Republic of Belarus" open joint stock company (further - Development bank), banks according to the procedure, established by Council of Ministers of the Republic of Belarus, grant export loans, including within credit lines:

in foreign currency (except for Russian rubles) - on commercially oriented interest rates (CIRRs) according to the Agreement provisions about officially the supported export loans drafted by member countries of the Organization for economic cooperation and development (further - commercially oriented interest rates (CIRRs), acting on the date of the conclusion of credit agreements;

in the Russian and Belarusian rubles - on commercially oriented interest rates (CIRRs), in case of their absence - at least two third the key interest rate established by the Central bank of the Russian Federation, and at least two third the refunding rate established by National Bank on the date of the conclusion of credit agreements, respectively.

4. Export loans are granted:

4.1. Development bank, banks to residents (except for the leasing organizations) for production of the goods included in the list established by Council of Ministers of the Republic of Belarus (further - the goods included in the list), and other goods (works, services) and subsequent their realization to the organizations which are not residents.

The repayment schedule of the specified credits is determined proceeding from the term necessary for the production of the goods included in the list, and other goods (works, services), which is not exceeding 180 calendar days and the term of their realization to the organizations which are not residents in accordance with the terms of the export contract;

4.2. banks to the organizations which are not residents (except for foreign banks), for payment (including preliminary) the implemented (realized) residents goods included in the list and other goods (works, services);

4.3. Development bank:

to the leasing organizations which are residents for acquisition at residents of the goods included in the list and other goods for their transfer to leasing or realization to the organizations which are not residents (except for foreign banks);

to the organizations which are not residents for:

payments (including preliminary) the implemented (realized) residents goods included in the list and other goods (works, services);

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