Sergey Sidorski Met German Gref

Sberbank of Russia is ready to issue loans worth of several hundred million dollars to large-scale Belarusian enterprises within the next few months. Such statement was made by Chairman of the Board of Russia’s Sberbank German Gref during his meeting with Prime Minister of Belarus Sergey Sidorsky that was held on March 24th, 2010.

Sberbank of Russia is ready to issue loans worth of several hundred million dollars to large-scale Belarusian enterprises within the next few months. Such statement was made by Chairman of the Board of Russia’s Sberbank German Gref during his meeting with Prime Minister of Belarus Sergey Sidorsky that was held on March 24^th, 2010.

"Today’s situation furthers our work in Belarus. Our bank has sizable available funds, and within the next few months we will be able to issue credits worth of several hundred million dollars to the largest Belarusian enterprises,” said German Gref.

In addition, Sberbank has started to credit Russian regions, namely Moscow, so that they could import Belarusian equipment and machinery. Some leasing projects related to selling of Belarusian products have also been launched.

Addressing Sergey Sidorsky, the Head of Sberbank noted: “I wish I could complain to the Head of the Government, but I can say nothing thereupon. We work effectively, in close cooperation.” “It is just the beginning of our work. We are ready to maximize the development of our relations,” said German Gref.

According to German Gref, his current visit to Belarus indicates that it is Sberbank’s final phase of entry into Belarusian market. It also marks the beginning of the development stage.

German Gref thanked the President of Belarus and the Prime Minister of the Republic for cooperation during difficult crisis period. Special gratitude was also expressed to the management of the National Bank for their assistance in the work of the Russian bank in Belarus. “Such cooperation with the Belarusian party obliges us to ensure proper fulfillment of our commitments,” said German Gref.

In his turn, Prime Minister of Belarus Sergey Sidorsky noted that Belarus expected Sberbank of Russia would reduce interest rates on loans to real sector of Belarusian economy.

“We hope that Russia’s Sberbank will be actively involved in Belarusian economy, we want it to feel comfortable in our country. Sberbank has become one of the leading Russian banks operating in Belarus, a key bank in committing resources for the real economy of our country and the leader of lowering of interest rates for the real economy,” said Sergey Sidorsky.

“We are satisfied with the progress of work with your bank. In fact, what is at issue is the deep infiltration of Sberbank’s capital into Belarus,” said Sergey Sidorsky. He expressed hope for effective implementation of existing agreements with Sberbank, as well as for reaching new ones. In particular, he emphasized that the funds worth of 6 billion Russian rubles obtained from Sberbank are now working effectively for the benefit of Belarusian economy.