PRESIDENTIAL DECREE OF THE REPUBLIC OF BELARUS

of August 25, 2006 No. 534

About assistance to commodity export development (works, services)

For the purpose of creation in the Republic of Belarus of complex incentive system of export I decide:

1. Approve:

The regulations on insurance (reinsurance) of export risks (are applied);

The regulations on procedure for compensation of losses to banks from provision of export loans, and also to the banks and the non-bank credit and financial organizations performing financing under concession of monetary claim (factoring) in case of implementation of export contracts (are applied).

2. Insurance of export risks with support of the state on behalf of the Republic of Belarus performs the Belarusian republican unitary enterprise of export-import insurance "Beleksimgarant" (further – Beleksimgarant).

The right to carrying out insurance of export risks is granted to the commercial organizations created for implementation of insurance activity and having licenses for implementation of insurance activity which shall have constantly equity in the amount of at least 25 million Belarusian rubles.

3. "Development Bank of the Republic of Belarus" open joint stock company (further - Development bank), banks according to the procedure, established by Council of Ministers of the Republic of Belarus, grant export loans, including within credit lines:

in foreign currency (except for Russian rubles) - on commercially oriented interest rates (CIRRs) according to the Agreement provisions about officially the supported export loans drafted by member countries of the Organization for economic cooperation and development (further - commercially oriented interest rates (CIRRs), acting on the date of the conclusion of credit agreements;

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