Business news

MINSK, 22 December (BelTA) – Belarus’ Economy Ministry and the European Bank for Reconstruction and Development (EBRD) signed a memorandum of understanding to implement the project “Supporting small and medium-sized enterprises as the main driving force for local and regional growth – advice for small business in Belarus,” BelTA learned from the ministry.

The document was signed by Belarus Deputy Economy Minister Dmitry Krutoy and EBRD Managing Director for Eastern Europe and the Caucasus Francis Malige.

The memorandum will help consolidate the agreements between the Economy Ministry and the EBRD on the implementation of the Advice for Small Business (ASB) program funded by the European Union. The program is designed to provide advisory services and share know-how with small and medium-sized companies of Belarus with the help of local and international advisers.

Dmitry Krutoy informed on the work carried out jointly with the bank to implement the current projects in Belarus with the participation of the EBRD, including the EBRD support to SMEs.

The EBRD managing director highlighted the progress made in the implementation of the projects to provide pre-privatization support of the organizations in the financial and real economy sector of Belarus and to prepare for the infrastructure projects, including the pilot project of public-private partnership to reconstruct Highway M10.