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EBRD estimates investments in projects in Belarus in 2020 at $400m
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MINSK, 16 April (BelTA) – The European Bank for Reconstruction and Development estimates the volume of investments in projects in Belarus in 2020 at $400 million, the EBRD press service told BelTA.
The year 2019 was very successful in Belarus-EBRD cooperation. The EBRD estimates the total volume of financing this year at about $400 million. The EBRD press service mentioned support for state and private companies as well as infrastructure projects.
The EBRD did not rule out that the total volume of finance may be adjusted taking into account needs of specific clients. The companies the EBRD already has projects with at various stages of readiness will get finance.
As for expanding the number of the EBRD’s clients in Belarus with state-run enterprises, the enterprises will have to pass all the established procedures first – financial analysis, risk assessment, and so on.
The EBRD press service reminded that the bank authorized a €1 billion Solidarity Package for 38 countries in March. The measure was taken to help the companies the bank works with in conditions of the coronavirus pandemic. The EBRD explained: “We see strong demand for resources and expect the shareholders to approve a new, larger assistance package soon. It will be intended for all our clients in all countries.” The assistance program is intended for current clients of the bank. The money can be used to increase bank liquidity, replenish floating assets, and restructure short-term debts.
The EBRD is a multilateral bank fostering the development of the private sector and entrepreneurship initiatives in 38 economies on three continents. The bank’s shareholders are 69 countries as well as the European Union and the European Investment Bank (EIB). Since the EBRD began working in Belarus in 1992, the bank has invested nearly €2.9 billion in 130 projects in various branches of the national economy. In 2019 the EBRD set a new record in its operation in Belarus: the bank invested over €390 million in 24 projects in the private sector and the public one.
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