Business news

MINSK, 14 November (BelTA) – The investment of the European Bank for Reconstruction and Development (EBRD) in Belarus may exceed €300 million in 2018, head of the EBRD representative office in Belarus Alexander Pivovarsky said at the parliamentary hearings on the legal and practical aspects of improving the investment climate in Belarus on 14 November, BelTA has learned.

“This year we have signed deals worth €240 million in Belarus. If another major transaction under an infrastructure project is signed next week, we will reach a record-high of €300 million in annual investment in Belarus. Private sector development remains a top priority for Belarus. Since 2016 we have been actively working to improve the quality of services in public infrastructure,” said Alexander Pivovarsky.

The EBRD annual investment amounted to €124 million in 2016, and €163 million in 2017. The EBRD’s biggest annual investments of about €250 million were posted in 2013-2014.

Since it started working in Belarus, the EBRD has invested over €2 billion in projects in various branches of the national economy.