Business news

Eurasian Development Bank mulls $300m project with Belaruskali

NUR-SULTAN, 2 August (BelTA) – The Eurasian Development Bank is considering undertaking another project worth $300 million with the Belarusian fertilizer manufacturer Belaruskali, Deputy Chairman of the Board of the Eurasian Development Bank (EDB) Amangeldy Isenov told the media on 2 August, BelTA has learned.

A loan agreement was signed in May. Under the document, the Eurasian Development Bank will allocate $100 million to finance Belaruskali’s floating capital and investment program. “The second part of the project with Belaruskali is almost ready. We have made great headway. There are some things we need to finalize with the client. Here we are talking about $300 million,” said Amangeldy Isenov.

The EDB is also planning to take part in the projects to reconstruct roads, in particular the M10 Highway. “We have already sent tender documents. We have a memorandum of cooperation with the Development Bank of Belarus. The negotiations have been going well,” said Deputy Chairman of the Bank.

According to him, the EDB also maintain good partnerships with the BelAZ and Grodno Azot companies.

The Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with a view to assisting the development of market economies of the member states while facilitating their sustainable economic growth and expanding their mutual trade and economic ties. The member states of the Bank are Armenia, Belarus, Kazakhstan, Kyrgyzstan, the Russian Federation, and Tajikistan.

print version

make home page

add to bookmarks