Belarus Development Bank to draw €314.5m loan from EDB
<p> MINSK, Nov 17 - PrimePress. The Belarus Development Bank will take out a loan in the amount of €314.5 million from the Eurasian Development Bank (EDB) for a period until 1 December 2024 under the guarantee of the government of Belarus to finance the bank’s objectives. This is stipulated by presidential ordinance #440 of 15 November 2021, the text of which was published on the National Legal Internet Portal of Belarus. </p> <p> </p> <p> As previously reported, Belarus has been the main borrower of the Eurasian Fund for Stabilisation and Development (EFSD), whose funds are managed by the EDB. The country received two loans for budget support - $3 billion in 2011 and $2 billion in 2016, as well as $500 million for COVID-19 relief and support for vulnerable people in 2020. The EDB has extended loans from its funds to Belarusian entities. In particular, the bank provided funding for the truck maker BelAZ in the amount of €50m in 2019-2020 and €90m in 2014-2018; Belaruskali - €360m in 2020 and €88.9m in 2019. </p> <p> </p> <p> The EEU is an international economic integration association established on the basis of the Customs Union and the Common Economic Space, which has been operating since 1 January 2015. The EEU ensures freedom of movement of goods, as well as services, capital and labour, and pursues coordinated, harmonised or unified policies in the sectors of the economy. </p> <p> </p> <p> The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries. For 15 years, the bank has worked to strengthen and broaden economic ties and foster comprehensive development in its member countries – Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan. The EDB’s charter capital totals US $7 billion. The EDB’s portfolio mainly consists of projects with an integration effect in the areas of transport infrastructure, digitalisation, green energy, agriculture, industry, and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations. End </p>
2021-11-18
Primepress
Belarus Development Bank to draw €314.5m loan from EDB
MINSK, Nov 17 - PrimePress. The Belarus Development Bank will take out a loan in the amount of €314.5 million from the Eurasian Development Bank (EDB) for a period until 1 December 2024 under the guarantee of the government of Belarus to finance the bank’s objectives. This is stipulated by presidential ordinance #440 of 15 November 2021, the text of which was published on the National Legal Internet Portal of Belarus.
As previously reported, Belarus has been the main borrower of the Eurasian Fund for Stabilisation and Development (EFSD), whose funds are managed by the EDB. The country received two loans for budget support - $3 billion in 2011 and $2 billion in 2016, as well as $500 million for COVID-19 relief and support for vulnerable people in 2020. The EDB has extended loans from its funds to Belarusian entities. In particular, the bank provided funding for the truck maker BelAZ in the amount of €50m in 2019-2020 and €90m in 2014-2018; Belaruskali - €360m in 2020 and €88.9m in 2019.
The EEU is an international economic integration association established on the basis of the Customs Union and the Common Economic Space, which has been operating since 1 January 2015. The EEU ensures freedom of movement of goods, as well as services, capital and labour, and pursues coordinated, harmonised or unified policies in the sectors of the economy.
The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries. For 15 years, the bank has worked to strengthen and broaden economic ties and foster comprehensive development in its member countries – Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan. The EDB’s charter capital totals US $7 billion. The EDB’s portfolio mainly consists of projects with an integration effect in the areas of transport infrastructure, digitalisation, green energy, agriculture, industry, and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations. End