Belinvest, the Belarusian Bank for Development and Reconstruction, is to receive a syndicated loan of US$85mn.

The Eurasian Development Bank (EDB) has signed an agreement to serve as mandated lead arranger, with Novikombank, AlfaBank, Globex Bank, MDM Bank, Credit Bank of Moscow, Zenith Bank and Baltikums Bank all talking part in arranging the loan.

The deal will be used to finance trade between Belarus and Russia.

Belinvestbank was established in 2001, after the merger of Belbusinessbank and the Belarusian Bank for Development. Since the bank began working with Belarus in 2010, it has financed export and import transactions as well as projects for small and medium-sized enterprises worth more than US$180mn.