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Belarus to attract over €180m for sustainable energy project

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MINSK, 26 September (BelTA) – The Council of Ministers of Belarus signed Resolution No.651 on 24 September 2019 which provides for raising over €180 million from international financial institutions to carry out an investment project to promote sustainable energy, BelTA learned from the national legal internet portal.

In 2020-2024, Belarus will take out a €90 million loan from the International Bank for Reconstruction and Development for the period of 20 years. Another €90 million loan will be granted by the European Investment Bank for the period of 25 years. Belarus will use the loans to finance the investment project to promote sustainable energy use. The Global Environment Facility will provide a €3.653 million grant to help Belarus implement the project.

The Belarusian government also approved the draft agreements which will lay the basis for future negotiations.

The Belarusian State Committee for Standardization is authorized to hold the negotiations on the draft agreements, introduce minor amendments to the documents, and sign them, should the parties reach an agreement.

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