Lukashenko suggests that VTB develop financing of Belarusian defense enterprises
MINSK. May 13 (Interfax) - Belarusian President Alexander Lukashenko has suggested that VTB Group develop the financing of Belarusian defense enterprises.
"We have always wanted our cooperation to expand, including in the defense sectors, it is very important to Russia now. We can make an additional breakthrough and modernize [defense enterprises] and manufacture products for the defense industry of the Russian Federation and Belarus with proper financing," Lukashenko said while meeting with VTB President Andrey Kostin in Minsk on Tuesday.
Lukashenko said VTB "provided support" to the Belarusian economy in an amount of some $300 million last year. "It's good support. A giant such as VTB Group can do more," he said.
Lukashenko recalled that the Armed Forces of Belarus and Russia are closely integrated. "We virtually have a common army, we have a joint group on the western track, and therefore this [cooperation between Belarus and VTB] will be a contribution to Belarus's defense," he said.
Kostin, for his part, said VTB has worked in Belarus for six years now and intends to expand its presence in the republic. "Belarus has a good banking culture: they don't only take on debt, they repay it. For this reason, we will continue increasing banking services in all areas here every year," he said.
VTB-Belarus, a subsidiary of VTB, is working in Belarus. It is among the ten largest banks operating in the republic.
