EBRD invests over €120m in Belarus in Q1 2014
2014-05-15 10:51:37
The European Bank for Reconstruction and Development (EBRD) invested €124.4 million in Belarus in Q1 2014, BelTA learnt from the Economy Ministry of Belarus.
The EBRD operations in 2013 reached a record high of €255 million. The bank used the funds to support projects of local and foreign investors in the private sector of Belarus. “Positive trends can be seen in the first quarter of 2014 as well. The volume of the bank's operations over the period totaled €124.4 million. A number of EBRD projects with Belarusian private banks worth over $90 million is under consideration,” the ministry said.
According to the ministry, Belarus jointly with the European Bank for Reconstruction and Development has launched a number of important investment projects in woodworking, production of drinks and rolling stock. Besides, on 1 April 2014 the EBRD took a decision on the allocation of additional €6 million for the project “Belarus: rolling stock production financing project”, bringing its total financing to €26 million.
In the financial sector the bank has launched a program to support the energy sector, Belarus Sustainable Energy Finance Facility (BelSEFF). In addition to the small business promotion program in energy efficiency and trading financing the EBRD starts making an active use of co-loans and loans on the construction of commercial facilities. In the state sector this organization funds the upgrade of waste treatment plants in Vitebsk, Slonim and Baranovichi as part of the Infrastructure Ecological Project.
EBRD Deputy Manager in Belarus Economy Minister Nikolai Snopkov is currently in Warsaw on a visit to take part in the 23rd annual meeting of the EBRD Board of Governors. Belarus at the meeting will present objective information on the state of its economy and areas of its further development. The meeting will also discuss the mechanisms of expanding Belarus' cooperation with the EBRD. Nikolai Snopkov is also expected to hold bilateral meetings with the authorities of the EBRD, the Nordic Investment Bank and other international organizations.