Business news

MINSK, 3 October (BelTA) – The European Bank for Reconstruction and Development (EBRD) will finance a pilot project to winterize 65 houses in the Belarusian capital Minsk, Head of the EBRD Office in Belarus Alexadner Pivovarsky told BelTA.

"We are currently discussing the implementation of a pilot project to winterize 65 residential buildings in Minsk. The project will help reduce energy consumption. It will be implemented with the financial help of the bank: loans and grants. We will need about a year to launch the project. It is a unique program, which will involve a large number of participants. Organizations will be chosen on a competitive basis. Private organizations will be able to take part as well, which will contribute to the development of a whole industry for the insulation of the housing stock," Alexander Pivovarsky said.

The EBRD is currently working with the government, the Housing and Utilities Ministry and the Minsk City Housing Service on a financial mechanism for the project, its technical aspects. "An international consultant will start working in Belarus on 10 October. We are taking the first steps in the implementation of such a project. In the future it can be implemented in other regions of the country. It is appropriate to work out more ambitious mechanisms of financing, including, perhaps, the creation of an international fund with loan and grant resources," the head of the EBRD Office in Belarus said.

Alexander Pivovarsky has taken part in the EBRD regional seminar on reforming the sector of water supply and water disposal which is running in Minsk on 3-4 October in cooperation with the Housing and Utilities Ministry and the Economy Ministry. The seminar has gathered specialists of Belarus, the CIS countries and Western Europe, representatives of ministries, international organizations and donors.