{"id":83615,"date":"2024-05-04T22:46:27","date_gmt":"2024-05-04T19:46:27","guid":{"rendered":"https:\/\/pozirk.online\/en\/news\/83615\/"},"modified":"2026-02-24T20:40:57","modified_gmt":"2026-02-24T20:40:57","slug":"government-to-compensate-bielarusbank-for-losses-from-loan-to-steel-works","status":"publish","type":"articles","link":"https:\/\/pozirk.online\/en\/news\/83615\/","title":{"rendered":"Government to compensate Bie\u0142arusbank for losses from loan to steel works"},"content":{"rendered":"\n
\n\n \"\"\n
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\n\n Belarusian Steel Works\n <\/div>\n \n
\n (corporate website)<\/span>\n <\/div>\n <\/figcaption>\n<\/figure>\n\n\n\n

May 4, Pozirk.<\/em><\/strong> Bie\u0142arusbank will be compensated for the losses from an export loan to the Belarusian Steel Works (BMZ; \u017d\u0142obin, Homiel region), the Council of Ministers decided yesterday.<\/p>\n\n\n\n

According to the decision on the National Legal Internet Portal, the loan agreement was signed to produce goods and sell them to non-resident organizations.<\/p>\n\n\n\n

The bank opened a revolving credit line with the preset limit of 1.8 billion Russian rubles (about $558 million). The interest rate was set at two-thirds of the Russian Central Bank’s key rate (now 16 percent) taking into account its fluctuation and on the condition that the export risks are ensured, for example with government support.<\/p>\n\n\n\n

Bie\u0142arusbank will be compensated for the losses at the expense of the national budget (under the budget line “other issues of industry, construction and architecture” in 2024 and under a dedicated budget line in 2025\u20132027; the Ministry of Finance has been instructed accordingly).<\/p>\n\n\n\n

In March last year, the government decided to compensate Bie\u0142ahraprambank for the losses from a loan to BMZ (2.65 billion Russian rubles) using the same scheme.<\/p>\n\n\n\n

In the first quarter of 2024, BMZ produced about 530,000 tons of steel, Deputy CEO U\u0142adzimir \u010cavus said in April.<\/p>\n\n\n\n

According to him, in March steel production increased by 11.4 percent year on year. It exceeded 220,000 tons.<\/p>\n\n\n\n

“These fairly high numbers tell us that the plant has found its way, stands firmly on its feet and continues to work and complete its tasks. At the same time, all manufactured products are shipped to consumers almost immediately . . . Our revenue increased 9.4 percent in the first quarter. In March, the figure increased to 14.5 percent. We are generally profitable. Our growth rate and economy are positive,” \u010cavus claimed.<\/p>\n\n\n\n

BMZ works since 1984. It has four production facilities: steel melting, rolling, pipe, and steel cord and wire. It is the managing organization of the state-controlled Belarusian Metallurgical Company (Bie\u0142aruskaja Mieta\u0142urhi\u010dnaja Kampanija). BMZ has been sanctioned by the European Union, the United States, Ukraine and other countries.<\/p>\n\n\n\n

Also read: \u0141uka\u0161enka appoints US-educated economist to senior administration position<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

May 4, Pozirk. Bie\u0142arusbank will be compensated for the losses from an export loan to the Belarusian Steel Works (BMZ; \u017d\u0142obin, Homiel region), the Council of Ministers decided yesterday. According to the decision on the National Legal Internet Portal, the loan agreement was signed to produce goods and sell them to non-resident organizations. The bank […]<\/p>\n","protected":false},"author":75,"featured_media":83527,"template":"","rubric":[21],"class_list":["post-83615","articles","type-articles","status-publish","has-post-thumbnail","hentry","rubric-economy"],"acf":[],"yoast_head":"\nGovernment to compensate Bie\u0142arusbank for losses from loan to steel works | Pozirk<\/title>\n<meta name=\"description\" content=\"May 4, Pozirk. Bie\u0142arusbank will be compensated for the losses from an export loan to the Belarusian Steel Works (BMZ; \u017d\u0142obin, Homiel region), the Council\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pozirk.online\/en\/news\/83615\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Government to compensate Bie\u0142arusbank for losses from loan to steel works | Pozirk\" \/>\n<meta property=\"og:description\" content=\"May 4, Pozirk. 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