Business news

MINSK, 27 April (BelTA) – The European Bank for Reconstruction and Development (EBRD) has carried out a green audit as part of the pre-privatization of Baranovichi Cotton Production Amalgamation (Blakit), Head of the EBRD Office in Belarus Alexander Pivovarsky told BelTA.

“Blakit has started the work with a green audit, or an audit of resource efficiency and environmental protection, which finished the other day. This was but the first stage. Our task was to make the first steps in cooperation. We did it and managed to give the assistance the company needs regardless of the privatization process. Now we will discuss further steps with the company and government,” Alexander Pivovarsky noted when commenting on the EBRD’s participation in the pre-privatization assistance to Belarusian companies.

The Belarusian government and the EBRD signed a memorandum of understanding on pre-privatization support of OAO Krinitsa for 2018-2020. Alexander Pivovarsky did not rule out the possibility of signing a similar memorandum in respect of Baranovichi Cotton Production Amalgamation. “We hope we will make the first steps together with the government to support the privatization of Krasnoselskstroimaterialy Company. We are open to work with other state-owned companies,” he added.

Baranovichi Cotton Production Amalgamation is one of the largest manufacturers of textile products in Europe and the CIS. The company processes cotton, makes yarn and sewn products.