Asset management agency to be set up in Belarus
11:11, 14 July 2016
MINSK. KAZINFORM - An Asset Management Agency will be established in Belarus. Head of state Alexander Lukashenko signed a corresponding decree on the establishment and operation of the open joint-stock company "Asset management agency", BelTA learned from the press service of the Belarusian leader.
The decree allows the banks to transfer non-performing loans of the steadily insolvent agricultural organizations to the Asset Management Agency.
The Agency shall be empowered to grant deferral (installment) plans to debtors to repay the principal amount of the debts transferred to it.
Implementing this mechanism will help clear the balance sheets of lending banks and improve the availability of credit for solvent agricultural organizations, Kazinform has learnt from BelTA.