National Bankof the Republic of Belarus and the signed a memorandum of understanding regarding theprivatization of JSC BankMoscow-Minsk, with the aim of selling a controlling stake in thelender to a strategic investor by Jan. 1, 2020.

Subject to the outcome of an analysis by EBRD experts, thebank's support in the privatization process would consist of the provision ofcredit facilities, technical assistance and help in increasing BankMoscow-Minsk's appeal to investors.

Meanwhile, the central bank will help improve BankMoscow-Minsk's systems, processes, control mechanisms and management methods.