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The document ceased to be valid since  May 7, 2021 according to the Resolution of Council of Ministers of the Republic of Belarus of May 5, 2021 No. 262

RESOLUTION OF COUNCIL OF MINISTERS OF THE REPUBLIC OF BELARUS

of June 28, 2013 No. 560

About approval of the Regulations on procedure and the amount of compensation of losses of "Development Bank of the Republic of Belarus" open joint stock company from provision of export loans

(as amended on 16-11-2017)

According to subitem 3.6 of Item 3 of the Presidential decree of the Republic of Belarus of August 25, 2006 No. 534 "About assistance to commodity export development (works, services)" and part two of subitem 1.2 of Item 1 of the Presidential decree of the Republic of Belarus of June 21, 2011 No. 261 "About creation of the open joint stock company "Development Bank of the Republic of Belarus" Council of Ministers of the Republic of Belarus DECIDES:

1. Approve the enclosed Regulations on procedure and the amount of compensation of losses of "Development Bank of the Republic of Belarus" open joint stock company from provision of export loans.

2. To the Ministry of Finance to provide means to "Development Bank of the Republic of Belarus" open joint stock company on compensation of losses from provision of export loans by preparation of the project of regulatory legal act about refining of separate indicators of the republican budget for 2013, and also in case of its forming on 2014 and the next years.

3. This resolution becomes effective after its official publication.

Prime Minister of the Republic of Belarus

M. Myasnikovich

Approved by the Resolution of Council of Ministers of the Republic of Belarus on June 28, 2013 No. 560

Regulations on procedure and the amount of compensation of losses of "Development Bank of the Republic of Belarus" open joint stock company from provision of export loans

1. This Provision determines procedure and the amount of compensation of losses of "Development Bank of the Republic of Belarus" open joint stock company (further - Development bank) from provision of export loans, including within credit lines, according to the legislation on the conditions provided in subitem 3.1 of Item 3 of the Presidential decree of the Republic of Belarus of August 25, 2006 No. 534 "About assistance to commodity export development (works, services)" (The national register of legal acts of the Republic of Belarus, 2006, No. 143, 1/7870) (further – export loans).

For the purposes of this provision the financial resources attracted on market conditions are understood as the financial resources (including SVOP attracted on the basis of transactions) attracted by Development bank (on its own behalf and at own expense), including in the international financial markets, except for:

means of the republican budget, local budgets and budgets of state non-budgetary funds (except such funds raised by Development bank in deposits (deposits) in Russian rubles if the interest rate for these deposits (deposits) increased by 1,25 of percent point is more than weighted average interest rate calculated proceeding from daily average remaining balance of debt on the export loans granted by Development bank in Russian rubles for month under report);

means of National Bank;

target resources;

tied foreign credits;

the resources attracted within presidential decrees of the Republic of Belarus of December 23, 2011 with No. 593 "About optimization of structure of assets of National Bank of the Republic of Belarus" of December 29, 2012 No. 575 "About some questions of acquisition in 2012-2013 of assets of banks "Development Bank of the Republic of Belarus" open joint stock company (The national legal Internet portal of the Republic of Belarus, 05.01. 2013, 1/13966) and of December 9, 2014 No. 572 "About additional measures of the state support of the families raising children" (The national legal Internet portal of the Republic of Belarus, 12.12. 2014, 1/15456).

2. Compensation of losses of Development bank from provision of export loans is made:

on condition of insurance of export risks with support of the state according to the Regulations on insurance of export risks with support of the state approved by the Presidential decree of the Republic of Belarus of August 25, 2006 No. 534;

within the means provided in the republican budget for the next financial year on these purposes.

3. The size of funds for compensation of losses of Development bank from provision of export loans in foreign currency (except for Russian rubles) is calculated as difference between the interest income estimated from daily remaining balance of debt on the export loan granted by Development bank with use of the weighted average interest rate which developed for the accounting period on the financial resources attracted with it on market conditions in the corresponding foreign currency (except for Russian rubles) increased by 1,25 of percent point and the interest income on this credit estimated with use of commercially oriented interest rate (CIRRs) for the accounting period.

If the size of the weighted average interest rate which developed on Development bank for the accounting period on the financial resources attracted with it on market conditions in foreign currency (except for Russian rubles) exceeds the size of average in the month previous reporting, profitability of the government long-term bonds of the Republic of Belarus placed outside the territory of the Republic of Belarus (in case of their availability), then when calculating the size of funds for compensation of losses of Development bank the rate equal to profitability of these bonds increased by 2 percent points is accepted. Profitability of the government long-term bonds of the Republic of Belarus, average in month, placed outside the territory of the Republic of Belarus is established as the average arithmetic size of averages for month of dokhodnost of all releases of these bonds determined based on the quotations placed in the information and analytical Bloomberg system.

The size of funds for compensation of losses of Development bank from provision of export loans in Russian rubles is calculated as difference between the interest income estimated from daily remaining balance of debt on the export loan granted by Development bank with use of the weighted average interest rate which developed for the accounting period on the financial resources attracted with it on market conditions in Russian rubles increased by 1,25 of percent point and the interest income on this credit estimated with use of the interest rate established according to the credit agreement for the accounting period.

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