Republic

Belarus’ Development Bank opens credit line to promote Geely cars in Kazakhstan

MINSK, 20 August (BelTA) – The Development Bank of the Republic of Belarus has opened a $10.9 million credit line for the company Virazh (Kazakhstan) that wants to buy and import Geely cars assembled by the Belarusian company BelGee.

The credit line was opened for one year under the interest rate of 1.9% per annum. The insurance coverage of the deal will be provided by Eximgarant of Belarus.

In line with the contract, 883 cars of various modifications are to be shipped to Kazakhstan in August. The cost of the cars is estimated at a total of about $11.5 million. By now the Belarusian manufacturer has already shipped cars to the amount to $8 million to Virazh.

Virazh is one of Kazakhstan’s leading sellers of commercial vehicles and special-purpose machines. The company has a network of showrooms all over Kazakhstan.