Business news

EBRD to provide $11.3m loan to build two biogas plants in Belarus

MINSK, 5 March (BelTA) – The European Bank for Reconstruction and Development (EBRD) will provide a $11.3 million loan to build two biogas plants in Belarus, BelTA learned from the bank.

The money will be given to two companies founded by Lithuania’s Modus Group. The two plants will have the total capacity of 3mW.

The project will promote FDI in the Belarusian energy sector. It will help reduce carbon dioxide emissions and address the agricultural waste problem, the EBRD said.  

Technical assistance under the project is provided by the government of Japan as part of the EBRD green economy transition mechanism.

The EBRD is an international bank, which facilitates the development of the private sector and entrepreneurship initiative in 38 economies on three continents. The EBRD shareholders include 67 countries, the European Union, and the European Investment Bank. Since the EBRD began working in Belarus in 1992, the bank has invested over €2.4 billion in 112 projects implemented in various branches of the national economy.

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