Business news

15 Apr 2019

EBRD eager to step up operation in Belarus

MINSK, 15 April (BelTA) – The European Bank for Reconstruction and Development (EBRD) intends to increase the volumes of operations in Belarus, the press service of the Belarusian Economy Ministry told BelTA.

A Belarusian delegation met with EBRD Vice President Alain Pilloux while taking part in annual spring sessions of the boards of governors of the International Monetary Fund and the World Bank Group in Washington, USA. The sides discussed the current agenda of cooperation. Belarusian Economy Minister Dmitry Krutoi mentioned the EBRD’s record high volumes of operations in 2018: they amounted to €360 million, more than 100% up from 2017. Alain Pilloux confirmed the bank’s intention to continue increasing the volumes of operations in Belarus. He drew attention to the importance of continuing providing pre-privatization support for OAO Belinvestbank and OAO Dabrabyt Bank and a number of real sector enterprises.

The sides also discussed preparations for new infrastructure investment projects. Belarus intends to implement a large-scale project to reconstruct the M3 motorway and a number of bridges together with the EBRD. The EBRD’s total investments as part of the loan agreement, which is supposed to be signed this year, may be close to €240 million. Apart from that, the EBRD expressed interest in financing a project in the area of heat rehabilitation of residential premises in Belarus as well as interest in continuing work in the sphere of water supply and water disposal.

The sides agreed to continue the dialogue during the annual meeting of the EBRD Board of Governors in Sarajevo, Bosnia and Herzegovina on 7-9 May.