Belarusky Narodny raises $20m for on-lending to SMEs

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Belarusky Narodny Bank (BNB) has raised a $20 million two-to-four-year fundraising from international lenders, the EBRD and FMO. According to an EBRD statement, BNB will use the loans to provide local SMEs with long-term funds.

The funding package comprises two $5 million four-year DFI-backed bilateral loans – one from the EBRD and the second from FMO. A $3 million two-year tranche from the European Fund for Southeast Europe (EFSE). And a $7 million three-year tranche jointly provided by Triodos Investment Management and Bank im Bistum Essen (BIB).

Minsk-headquartered BNB is a specialist SME financier. The IFC holds a 19.99% stake in the bank, while Bank of Georgia owns 79.99%.