Aleksandr Lukashenko meets with Chairman of OAO Bank VTB Andrei Kostin

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Belarus President Aleksandr Lukashenko invites the VTB Group to expand cooperation in new areas, including the defense sector. The Belarusian leader made this statement as he met with President and Chairman of the Management Board of OAO Bank VTB member of the supervisory board Andrei Kostin on 13 May.

“Today it is of great importance for Russia as well. We also can do something additionally. With proper financing we can modernize and launch the production of certain products for the needs of the defense sector of the Russian Federation. We have common army. We have a combined force grouping here in the western direction and it will be also a contribution to the Belarusian defense sector,” the Belarusian head of state said.

Aleksandr Lukashenko thanked Andrei Kostin for the financial support the Bank VTB provides to the Belarusian economy. In his words, in 2013 the bank’s loans totaled almost $300 million. “The giant such as the VTB Group is capable of more. That is why we suggest expanding our cooperation in new areas, including the defense sector,” the President of Belarus noted.

Andrei Kostin, for his part, stressed that the Bank VTB has been working in Belarus for six years already. “We are satisfied with this work. Belarus has the right banking culture, the culture of not only lending but also returning the money,” he said, adding that the Bank VTB has been increasing its service in every area, providing loans for the government, companies and individuals.

Andrei Kostin congratulated Belarusians for hosting the IIHF World Championship. In his words, the successful organization and hosting of such an important event will show the world the potential modern Belarus has.