Priorbank JSC actively develops cooperation with international financial institutions that allows it to promote the realization of Priorbank’s clients’ investment projects, to enhance the opportunities in trade finance, and to provide long-term bank products to retail clients.
Cooperation with European Bank for Reconstruction and Development
European Bank for Reconstruction and Development (EBRD) is the second largest shareholder of Priorbank with 13.5%, or a 13.9 billion BYR stake in Priorbank’s equity, as of 01.01.2007.
Ten years of successful cooperation has enabled Priorbank to contribute to the development of SME business in Belarus. Priorbank participates in the micro, small and medium enterprise sectors’ financing programme; it is also an active participant to the Trade Facilitation Programme, being decorated with the “Most active Trade Finance Bank in Belarus in 2006” award.
In 2003 Priorbank became the first Belarusian bank to get an international syndicated loan (to the amount of 36 million USD) arranged by EBRD.
On December 14th, 2007, Priorbank and EBRD signed a new 20 million USD 4 Year term MSME financing loan agreement. Being encouraged by the considerable demand for loans demonstrated by private micro, small and medium enterprises, Priorbank and EBRD agreed the two-fold increase of the loan amount in comparison to a similar loan agreement signed in 2004.
Cooperation with International Financial Corporation
Priorbank has been maintaining a sound relationship with the International Finance Corporation (IFC) since 2003.
In July 2005 Priorbank signed the third SME/Mortgage loan agreement with IFC for the amount of 20 million USD, within a 200 million USD capital support to Raiffeisen`s banking network in Central, Eastern and Southern Europe.
IFC`s partnership with Raiffeisen group dates back to 1987.