Think Railways

A Belarusbank delegation visited Zurich. Belarusbank Chairman of the Board Sergei Pisarik met with top executives of the consortium of Swiss banks UBS, Credit Suisse, and Zurcher Kantonalbank. A supplement to the previous credit agreement between Belarusbank and the consortium was signed. The document provides for financing the additional delivery of two seven-car electric trains made by Stadler Bussnang to Belarusian Railways, said representatives of Belarusbank.

The credit agreement to finance the delivery of the first batch of interregional electric trains was signed about a year ago. The first few trains have already been delivered to Belarus. It is a fateful project for Belarusbank. Sergei Pisarik was quoted as saying: “It is a testimony of the bank’s direct involvement in the accomplishment of national goals such as the modernization of the country’s transport system. The implementation of the project will also allow Belarusian Railways to enable a new level of passenger transportation service. Belarusians and tourists have already appreciated the comfort of Swiss commuter trains”.

During the meeting the sides concluded that despite the accomplishments the potential of bilateral interbank cooperation is far from being exhausted. Representatives of the Swiss financial institutions were invited to take a more active part in the implementation of investment projects of Belarusbank clients. “The further enhancement of ties in all the mutually beneficial areas can be secured through joint effort. Belarusbank’s financing of the electric trains delivery project was the foundation for setting up the joint venture OAO Stadler Minsk in association with the Swiss company Stadler Rail AG to make passenger electric transport and penetrate third-country markets later,” said the Belarusbank press service.

Source: belta.by