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Microlending bank nearly open in Belarus
Real estate news By National Legal
10/10/2007 15:56
The foundation of a Belarusian microlending bank is close to completion, Advisor for Economic Affairs of the International Finance Corporation Ruslan Mikhtiev told a seminar in Minsk on October 10.
The IFC representative noted, the partners that are carrying out technical consultations and make investments into the bank have already opened an office in Minsk. An office has been chosen for the bank, too. Efforts are exercised to open the bank within the next few months.
The International Finance Corporation is an investor into the microlending bank. Earlier Craig Bell, World Bank Resident Representative in Belarus, said that the IFC had apportioned over €11 million for the project. In February 2007 the European Bank for Reconstruction and Development and the National Bank of the Republic of Belarus signed a memorandum of understanding concerning the foundation of a Belarusian bank for issuing microloans to small and medium businesses.
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