Sorainen Belarus acted as local counsel for International Finance Corporation (IFC) on an extension of a USD 5 million loan to Belarusky Narodny Bank for small- to medium-sized enterprise (SME) finance. This financing complements a recent purchase of equity in the bank, also now the first bank in Belarus to which IFC is making loan and international trade guarantees available following its equity acquisition back in July 2010. Belarusky Narodny Bank is a midsize Belarusian bank focused on small and medium enterprise finance.
The Sorainen team performed limited due diligence of the borrower, advised on the implications of Belarusian laws for terms of the loan agreement and issued a legal opinion. IFC was advised by partner Kiryl Apanasevich and associate Ann Valchok.