On the 16th of August, 2012, the Bank BelVEB issued the first letter of credit for payments under contracts for the construction of Belarus NPP. This was told to a correspondent of BELTA by bank’s spokeswoman Lyudmila Sats.
The letter of credit was issued for an amount of $184m by a request from the Nuclear Power Plant Construction Directorate (Belarus) in favor of Atomstroyexport (Russia) under a contract for surveys, development of the project documentation and priority working documentation.
The letter of credit will be paid at the expense of the state export loan for the construction of Belarus nuclear power plant, which is provided by the Government of Russia to the Government of Belarus in accordance with the intergovernmental agreement of November 25, 2011. The State Corporation – Bank for Development and Foreign Economic Affairs (Vneshekonombank) (Russia) and Bank BelVEB are agent-banks for servicing this state loan.
On the 1st of February, 2012, in Moscow, Vneshekonombank and Bank BelVEB signed an inter-bank agreement concerning the procedure of interaction when servicing the state loan for the construction of NPP. On the 28th of June, 2012, the Ministry of Finance of the Republic of Belarus, the Nuclear Power Plant Construction Directorate and Bank BelVEB signed an agreement on the procedure of the use and repayment of the state export loan provided by the Government of Russia for the construction of the nuclear power plant in the territory of Belarus.