Sovereign rating will help Belarus attract more foreign investments
18.10.2007
The acquiring of the sovereign rating gives Belarus an opportunity to increase foreign investment in its economy, Herbert Stepic, CEO of Raiffeisen International Bank-Holding AG, told reporters in Vienna.
In his words, this will help improve the investment image of Belarus and enhance the interest of Austrian companies in Belarus.
“Acquiring the rating is very important for your country. We have made our best for the decision to be taken,” Herbert Stepic said.
RZB plans to concentrate main efforts on the development of the banking sector in Belarus and to speed up the development of leasing in the country, he stressed. Raiffeisen International Bank-Holding AG also plans to help Belarus attract financial resources abroad.
The credit-investment cooperation is one of the most dynamically developing and promising areas of trade-economic cooperation between Belarus and Austria. For the past ten years Austria has extended five loans under the guarantees of the government of Belarus to the tune of EUR 41,61 million.
In terms of investments in the Belarusian economy in 2006, Austria ranks fourth following Great Britain, Switzerland, Germany and Russia. In 2006, the county attracted $276,7 million of Austrian investments (55% up); in H1 this year - $198,9 million.