Belarusbank will have its $229,434 credit to OAO Kamvol fabric manufacturer secured by the government.
The credit was issued in February 2014 to help the fabric manufacturer replenish circulating assets.
The government’s security will cover the repayment of the principal debt and credit interest payments (except for interest payments refunded at the expense of the central budget).
Kamvol is due to repay the $229,434 credit in the period from January 1, 2018 till December 31, 2019.
The government’s security is provided in the currency of the credit, with 0.01% of the credit amount charged as a one-off credit security fee.
OAO Kamvol fabric manufacturer has been operating since 1955. The company is the largest producer of woolen fabrics in the CIS states. Kamvol products are exported to Russia, Ukraine, Azerbaijan, Italy, Poland, Latvia and Lithuania. (Prime-TASS/Business World Magazine)