Business news

Belarus in favor of increasing EDB’s role in EAEU

YEREVAN, 9 October (BelTA) – Belarus is in favor of strengthening the role of the Eurasian Development Bank (EDB) in the Eurasian Economic Union (EAEU), Belarusian Prime Minister Roman Golovchenko said at a meeting of the Eurasian Intergovernmental Council in Yerevan on 9 October, BelTA has learned.

“Belarus supports the efforts to increase the role of the Eurasian Development Bank. This financial institution should play a greater role in strengthening the union, in particular, in developing the system to facilitate export of EAEU-made products,” Roman Golovchenko noted.

It is suggested that the Eurasian Development Bank and national development banks team up to provide credit support for projects that contribute to the integration. “This will make loans cheaper and compensate for the interest rate risks,” the prime minister said.

According to him, developing a system of joint export insurance will also become an important tool for export financing.

During Belarus' presidency over EAEU bodies, the EAEU continues strengthening its institutional structure, increasing the jurisdiction and efficiency of the Eurasian Economic Commission, and improving the procedure for making and enforcing decisions of EAEU bodies. “These areas have been set forth in the draft document on strategic areas of Eurasian economic integration through 2025. I believe that the heads of state will adopt the document at their next meeting,” Roman Golovchenko added.

The Eurasian Development Bank is an international financial institution that is meant to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The member states of the bank are Belarus, Armenia, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan.

print version

make home page

add to bookmarks