Commentary to Decree on setting up Asset Management Agency

    An Asset Management Agency will be established in Belarus. Head of state Aleksandr Lukashenko signed a corresponding decree on the establishment and operation of the open joint-stock company “Asset management agency”.

    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.