Business news

MINSK, 5 June (BelTA) – The Great Stone Industrial Park and the European Bank for Reconstruction and Development (EBRD) have signed a memorandum of understanding, BelTA informs.

The document was signed at the Belarusian Ministry of Foreign Affairs on 5 June between the administration of the Chinese-Belarusian industrial park Great Stone, the Industrial Park Development Company and the European Bank for Reconstruction and Development. The memorandum is aimed at enhancing cooperation between the signatories. Chief Executive Officer of the Industrial Park Development Company Hu Zheng told BelTA that the document is important for the implementation of the Great Stone projects.

The document was concluded during the visit of EBRD Vice President Alain Pilloux to Belarus. The EBRD vice president held talks with Belarus’ Minister of Foreign Affairs Vladimir Makei. The parties reaffirmed interest in further cooperation between Belarus and the EBRD. The parties discussed the implementation of joint projects and new areas of cooperation between Belarus and the EBRD. The sides praised the current level of cooperation between Belarus and the European Bank for Reconstruction and Development and talked over the preparations for the forthcoming consultative visit of a delegation of the EBRD Board of Directors to Belarus in September 2018.

The European Bank for Reconstruction and Development was set up in 1991. EBRD’s current strategic priorities in Belarus are to improve the competitiveness of the country's real economy and enhance the sustainability and service quality of the public infrastructure. A roadmap for Belarus-EBRD cooperation has been developed in cooperation with the bank to include the main projects and priority areas of cooperation.