Promagroleasing to supply 400 railcars to Kazakhstan

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MINSK. July 12. KAZINFORM The national leasing operator OAO Promagroleasing with the support of Eximgarant of Belarus has concluded international leasing contracts with the Kazakh company for the supply of 400 railcars to Kazakhstan, BelTA learned from Eximgarant of Belarus.

The Belarusian railcars manufactured by Mogilev carriage plant will be used by major manufacturers of Kazakhstan to ensure timely and quality cargo delivery. The total cost of the delivery (hopper cars for the transportation of cement) under leasing contracts is more than $31 million. Political and commercial risks under this transaction are insured by Eximgarant of Belarus.

"International leasing is another opportunity to promote Belarusian goods to foreign markets. When taking a decision on the provision of insurance coverage, Eximgarant of Belarus was guided by the instructions of the government to boost exports," Eximgarant said.

Founded in 2001, Promagroleasing is the national leasing company of Belarus. In 2009 the company was authorized to launch a mechanism for international financial leasing to boost sales of Belarusian products in foreign markets. In 2010 Promagroleasing started selling Belarus-made equipment under international leasing contracts to the EU and CIS countries, Georgia and Africa.

In January-May Promagroleasing exported $12.9 million worth of machinery (244 units) under leasing and foreign trade contracts, up 49% as against the same period in 2012. The Belarusian machinery was supplied to Russia (119 units), Czechia (38 units), Ukraine (37 units), Mozambique (35), Armenia (11) and Georgia (4), the inflow of foreign currency totaling $6.1 million, BelTA reports.

Eximgarant of Belarus has been on the market since 2001. It provides insurance coverage of export contracts of Belarusian exporters and export loans issued by banks to exporters or non-resident companies that buy Belarusian products. As of 1 July 2913 its authorized capital amounted to Br3991 billion, insurance premiums totaled Br276.3 billion.

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