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EDB to finance projects worth $1.5bn in Belarus by 2026
Nikolai Podguzov. Photo courtesy of the EDB press service
ALMATY, 27 June (BelTA) – The Eurasian Development Bank (EDB) will finance projects worth $1.5 billion in Belarus over the period until 2026, Chairman of the EDB Board Nikolai Podguzov told reporters on the sidelines of the EDB Annual Meeting and Business Forum taking place in Kazakhstan’s Almaty on 27-28 June, BelTA has learned.
“Country strategies have been adopted in each of the countries where we operate. As for Belarus, we have agreed on investing an equivalent of $1.5 billion over the period until 2026. We are more or less keeping up with the schedule on this,” noted Nikolai Podguzov.
“We provide non-sovereign lending. A number of projects [are being financed],” he said. For example, last year the organization started funding the Prilesie Logistic complex.
“This is a large-scale logistics project. Next in line is the Servolux company that produces poultry meat. And I know that other countries in the Eurasian space are interested in the Servolux company,” said the chairman of the EDB board.
“The work is proceeding as planned. We have no doubts that we will be able to implement the strategy that we have developed together with our Belarusian colleagues,” Nikolai Podguzov noted.
A reminder, the Eurasian Development Bank is set to invest almost $11 billion in the economies of shareholder countries by 2026.
The forum has brought together representatives of development banks, international organizations, business community, academia, and professional associations from various countries. Over the course of two days, they will exchange experiences, discuss current issues, and also map out ways for joint development within the Eurasian space.
The Eurasian Development Bank is a multilateral development bank investing in Eurasia. For more than 18 years, the Bank has been working to strengthen and expand economic ties and foster comprehensive development in its member countries. The EDB's charter capital totals US $7 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations.
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