Business news

CHON-SARY-OI, 4 August (BelTA) – The Eurasian Development Bank (EDB) is interested in developing projects in the sphere of transport infrastructure and alternative energy in Belarus, BelTA learned from Timur Abdullakhanov, Managing Director of the Directorate for Energy, Transport, Transport Infrastructure, and Municipal Infrastructure Projects of the Eurasian Development Bank, after the roundtable session held in Chon-Sary-Oi, Issyk-Kul Oblast, Kyrgyzstan on 4 August to highlight the Bank’s operation in the last ten years.

The EDB Executive noted: “There is excellent infrastructure in Belarus, particularly the motorways. They are of European quality and Belarusians build them using their own resources and assets. The advantage should be exploited. It is necessary to build logistics hubs, parking lots, and warehouses. Private investments could come in handy.” The expert stressed that it is a promising area of focus for the Bank.

Timur Abdullakhanov mentioned alternative energy industry as the second promising area of focus. “Power engineering has always had a lot of appeal but we are interested in alternative energy. For instance, Belorusneft puts efforts into this area. We maintain active contacts with them and would like to develop joint projects in the sphere of alternative energy,” explained the executive.

Speaking about the projects the EDB facilitates in Belarus, Timur Abdullakhanov mentioned that those are primarily projects covered by the government’s sovereign guarantees. “And all the major foreign investors would like to get sovereign guarantees since they cover not only the success or failure of a project. They also cover the so-called political risks. This is why we are ready to go for Belarusian projects covered by sovereign guarantees,” he stated. Timur Abdullakhanov reminded that the Eurasian Development Bank is now involved in such projects as the construction of a hydropower plant on the Zapadnaya Dvina River, the organization of manufacturing of railway freight cars and tank containers in Osipovichi.

Timur Abdullakhanov also said he believes that further privatization is necessary to bring more investments to Belarus.

The Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with a view to facilitating the development of market economies in the member states, their sustainable economic growth, and the expansion of mutual trade and economic ties. The EDB’s charter capital stands at $7 billion. The member states of the Bank are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. The Bank is headquartered in Almaty, Kazakhstan.