Belarusians to Repay Debts of the Main Dictator's Shoe Manufacturer

• 7.02.2017, 11:35

Marko Shoe Factory got guarantees for loans.

The government will provide guarantees for Belagroprombank in repayment of loan principal and part of interest at the rate of 2% per annum issued for Marko.

The press service of the Ministry of Finance informs that it is about loans of the bank in foreign currency up to 7 years and with two-year deferment granted to OOO Holding Managing Company "Belarusian Marko Leather and Footwear" to finance the investment project "Creation and modernization of production facilities for production of up to 5 million pair of shoes per year and reconstruction of the fur department regarding establishment of the Belarusian Marko Leather and Footwear Company for 2013-2024 years”.

The relevant decision was taken by Decree No. 98 of the Council of Ministers dated 06.02.2017.

According to the document, the payment for submission of guarantees performs a one-time payment of 0.1% on the amount of loans.

Director General of Marko and Chairman of the Belarusian State Concern on Production and Sales of Goods of Light Industry are personally liable for proper use and timely repayment of loans.

It should be noted that last Friday Lukashenka stated that he wore footwear of the holding mentioned above.