Will Italian bank work with dictatorship? :: Charter'97 :: News

Fabrizio Palenzona, Vice Chairman of the Board of Italian bank UniCredito Italiano, does not exclude a possibility of opening a bank subsidiary in Belarus. “UniCredito Italiano is branching out in former republics of the USSR, and there are no reasons preventing from opening a bank in Belarus,” told Fabrizio Palenzona to journalists on Tuesday in Minsk after a meeting with Belarusian Prime Minister Syarhei Sidorski.

Italian banker has also told that “in 2 weeks we are to open a representative office of Moskow International Bank, which only owner is Unicredito”. “In the near future we are to entrench itself here and continue work,” Fabrizio Palenzona said.

Commenting on the results of the meeting with Belarusian Prime Minister S. Sidorski, F. Palenzona noted long-term relations with Belarusian government and said that the sides considered new issues, like financing of oil industry. Besides, the Italian side is interested by financing alternative renewable energy resources in Belarus.

An expert on export contracts of Italian bank Mediobanca - Banca di Credito Finanziario (UniCredito group) Italo Pellegrino said to journalists that opening of a new credit line of EURO 70 mln for financing Belarusian investment projects is possible after a credit line for the same sum would be used.