Arab Today, arab today russia\s sberbank secures belarus potash stake
Last Updated : GMT 00:00:56
Arab Today, arab today
Arab Today, arab today

Russia\'s Sberbank secures Belarus potash stake

Arab Today, arab today

Arab Today, arab today Russia\'s Sberbank secures Belarus potash stake

Moscow - AFP

Russia\'s largest bank Sberbank said on Friday it had secured a 35-percent stake in the main economic asset of Belarus as collateral for a $2 billion loan it will extend jointly with Deutsche Bank to the country. The state bank\'s announcement came one day after India\'s ambassador to Belarus said New Delhi was also interested in buying into the Belaruskali potash giant given soaring emerging market demand for fertiliser products. Sberbank chief German Gref told Prime Minister Vladimir Putin that the loan would also be secured by future Belaruskali potash deliveries. \"We have decided together with Deutsche Bank to extend a $2 billion (1.4-billion-euro) loan to one of Belarus\' largest enterprises, Belaruskali,\" Gref said in comments reported on the government\'s website. \"This is not a very easy time for Belarus. But for us, this is a fairly safe, good loan,\" Gref said, without providing details about Deutsche Bank\'s involvement in the deal. \"This should greatly help Belarus overcome the crisis at this difficult time,\" said Gref, Russia\'s former economy minister. Global lender Deutsche Bank issued no immediate comment. Gref said the cash would be lent directly to Belaruskali -- a fully state-owned enterprise responsible for 16 percent of the world\'s potash exports. Belarus this year has been hit by a severe current account deficit that prompted a 36-percent currency devaluation in May and the imposition of price caps on basic staples. President Alexander Lukashenko has slapped a $30 billion price tag on Belaruskali and his government had previously brushed aside Russian interest in the strategically important firm. Gref has positioned Sberbank to play the role of Lukashenko\'s official adviser to a privatisation programme that is meant to raise $7.5 billion in three years to help him stabilise the public finances. The ex-Soviet republic is also seeking $8 billion in assistance from the International Monetary Fund. Negotiations over Belaruskali\'s sale have been slow and top Russian potash producer Suleyman Kerimov said in June his Nafta Moskva firm did not expect a deal to be conducted in the immediate future. Sberbank previously said it might help finance Kerimov\'s purchase of a stake in Belaruskali and Gref\'s announcement Friday could be the first step in a potential deal involving Nafta Moskva. Gref\'s comments came one day after Indian Ambassador Manoj K. Bharti met Lukashenko and later told reporters that his country was eager to take part in Belaruskali\'s privatisation, should a formal bidding process be announced. \"India is interested in purchasing Belaruskali shares if they are offered,\" Minsk\'s official Belta news agency quoted the Indian ambassador as saying. The importance of potash fertiliser has soared in recent years owing to mounting demand for food in the major emerging economies such as India and China.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today russia\s sberbank secures belarus potash stake Arab Today, arab today russia\s sberbank secures belarus potash stake

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Top Yemen commander killed

GMT 09:55 2017 Wednesday ,22 February

Top Yemen commander killed
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Janat pleased for issuing 'Good Morning'

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday