Business news

EBRD encourages national currency operations in Belarus

MINSK, 7 June (BelTA) – The European Bank for Reconstruction and Development is in favor of more operations using national currency in Belarus, BelTA learned from Vice President of the European Bank for Reconstruction and Development Alain Pilloux on 7 June.

The EBRD vice president said: “We wholeheartedly support efforts of the National Bank of the Republic of Belarus to de-dollarize the Belarusian economy, in particular, in loans to Belarusian companies. We are now working on a number of technical instruments, which would allow us to assist with the process.” The executive specified that the EBRD is working with the NBRB and several commercial banks to create lending instruments reliant on Belarusian rubles.

“We will need some time to increase the share of operations in national currency in our portfolio. But in the future we would like to see half of the operations with our private sector clients using national currency. Certainly, it cannot be accomplished within the remaining six months. A longer period of time may be required,” stated the EBRD vice president.

print version

make home page

add to bookmarks