Sorainen Belarus assisted the International Finance Corporation (IFC) with the extension to Belaruski Narodny Bank of a loan of up to USD 20 million.
The loan is aimed to support the borrower’s working capital, as well as its trade-related lending programme for Belarusian businesses in direct response to the COVID-19 pandemic. USD 10 million of the loan will be syndicated.
IFC is a global financial institution investing exclusively in for-profit private-sector projects in developing countries. IFC is a member of the World Bank Group and has its headquarters in Washington, D.C. in the United States.
Sorainen’s team advised IFC on the Belarusian law aspects of the transaction and issued a legal opinion. The Sorainen team was represented by partner Kiryl Apanasevich, senior associate Ann Laevskaya and associate Artem Melnikovich.