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RESOLUTION OF COUNCIL OF MINISTERS OF THE REPUBLIC OF BELARUS

of October 11, 2022 No. 688

About compensation of losses and the conclusion of contracts of voluntary insurance of export risks with support of the state

Based on the Presidential decree of the Republic of Belarus of August 25, 2006 "About assistance to commodity export development (works, services)" the Council of Ministers of the Republic of Belarus DECIDES: No. 534

1. Compensate in 2022-2025 to Alfa-Bank private company (further - Alfa-Bank Ltd) losses from:

1.1. provisions to limited liability company "Energokomplekt production association (further - ON Energokomplekt LLC) export loan according to the general agreement about crediting in the form of multiple currency renewable credit line of July 20, 2022 No. 2022-143 for production of the goods included in the list established by the resolution of Council of Ministers of the Republic of Belarus of May 5, 2021 No. 262 "About support of export and insurance" (further - the goods included in the list), and subsequent their realization to the organizations which are not residents, way of opening of renewable credit lines with general extreme size of one-time debt in the amount no more than 10 850 492 US dollars in equivalent on the official rate of National Bank of the Republic of Belarus for date of application for loan granting.

The renewable credit lines specified in part one of this subitem open:

in US dollars - on commercially oriented interest rates (CIRRs) with the extreme size of one-time debt which is not exceeding 10 850 492 US dollars;

in euro - on commercially oriented interest rates (CIRRs) with the extreme size of one-time debt which is not exceeding 10 280 000 euros;

in Russian rubles - on the interest rate determined as two third the key interest rate established by the Central bank of the Russian Federation (taking into account its change), with the extreme size of one-time debt which is not exceeding 840 000 000 Russian rubles;

in Belarusian rubles - on the interest rate determined as two third the refunding rate established by National Bank of the Republic of Belarus (taking into account its change), with the extreme size of one-time debt which is not exceeding 27 300 000 Belarusian rubles;

1.2. implementation of financing of ON Energokomplekt LLC under concession of monetary claim (factoring) in case of implementation of export contracts under the general agreement of the hidden factoring of August 16, 2022 No. 2022-5/F with extreme size of financing of 10 095 890 euros with payment of the remuneration determined as the one three hundred sixtieth part of commercially oriented interest rate (CIRRs).

2. Compensation of losses according to Item 1 of this resolution is performed on condition of insurance of export risks or insurance of export risks with support of the state.

3. Determine that compensation of losses of Alfa-Bank Ltd from provision of export loan and implementation of financing under concession of monetary claim (factoring) according to Item 1 of this resolution is made:

in 2022 - at the expense of the means of the republican budget provided on other questions in the field of the industry, constructions and architecture;

in 2023-2025 - within the means provided on these purposes in the republican budget for these years.

4. To the Ministry of Finance when forming the republican budget for 2023-2025 to provide funds for compensation of losses of Alfa-Bank Ltd from provision of export loan and implementation of financing under concession of monetary claim (factoring) according to Item 1 of this resolution.

5. Permit the Belarusian republican unitary enterprise of export-import insurance "Beleksimgarant" to sign contracts of voluntary insurance with Alfa-Bank Ltd:

5.1. risk of non-return (default) and (or) delay of return (repayment) of the export loan granted to Alfa-Bank Ltd of ON Energokomplekt LLC according to the general agreement about crediting in the form of multiple currency renewable credit line of July 20, 2022 No. 2022-143 for production of the goods included in the list and subsequent their realization to the organizations which are not residents;

5.2. factoring within financing of Alfa-Bank Ltd under concession of monetary claim of ON Energokomplekt LLC for the exported goods under export contracts according to the general agreement of the hidden factoring of August 16, 2022 No. 2022-5/F.

6. This resolution becomes effective from the date of its acceptance.

First Deputy Prime Minister of the Republic of Belarus

N. Snopkov

 

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

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