Belarus’ Energy Ministry and EBRD to negotiate €14.11m loan for power supply to FEZ Minsk
<p> MINSK, Jun 15 - PrimePress. The Ministry of Energy of Belarus will hold talks with the European Bank for Reconstruction and Development (EBRD) on a loan of €14.11 million in 2020-2022 to develop the electrical supply network in the Free Economic Zone (SEZ) Minsk (government resolution No.336 of June 11, 2020 posted on the National Legal Internet Portal on June 13). </p> <p> </p> <p> The ministry plans to take the loan for 15 years to finance the construction of the 110/10 kV Cherkasy substation with high-voltage 110 kV lines for power supply to section 10 in the Fanipol District of the Free Economic Zone Minsk. </p> <p> </p> <p> The ministry is allowed making amendments to the agreement that are not of a fundamental nature, and signing a loan agreement upon approval under the investment project. </p> <p> </p> <p> The European Bank for Reconstruction and Development is an international financial institution headquartered in London, created to support the economic transformations in Central and Eastern Europe. Since the start of its operations in Belarus in 1992, the EBRD has invested €2.895 billion in 131 projects in various sectors of the country’s economy. In 2016 the EBRD adopted a new strategy for operations in Belarus in 2016-2019. The document abolished the calibrated approach, which restricted EBRD operations with the public sector. Belarus and the EBRD have been implementing a number of projects in utilities industry, energy saving, transport infrastructure and environment protection. </p> <p> </p> <p> The Free Economic Zone Minsk (over 2,791 hectares in area) was established on March 2, 1998 at the initiative of the Minsk City and Minsk Regional Executive Committees. The FEZ is located on 23 sites in Minsk and the Minsk Oblast near Fanipol, Molodechno, Borisov, Zhodino and Smolevichi. The FEZ numbered 117 resident companies as of June 11, 2020. End </p>
2020-06-16
Primepress
MINSK, Jun 15 - PrimePress. The Ministry of Energy of Belarus will hold talks with the European Bank for Reconstruction and Development (EBRD) on a loan of €14.11 million in 2020-2022 to develop the electrical supply network in the Free Economic Zone (SEZ) Minsk (government resolution No.336 of June 11, 2020 posted on the National Legal Internet Portal on June 13).
The ministry plans to take the loan for 15 years to finance the construction of the 110/10 kV Cherkasy substation with high-voltage 110 kV lines for power supply to section 10 in the Fanipol District of the Free Economic Zone Minsk.
The ministry is allowed making amendments to the agreement that are not of a fundamental nature, and signing a loan agreement upon approval under the investment project.
The European Bank for Reconstruction and Development is an international financial institution headquartered in London, created to support the economic transformations in Central and Eastern Europe. Since the start of its operations in Belarus in 1992, the EBRD has invested €2.895 billion in 131 projects in various sectors of the country’s economy. In 2016 the EBRD adopted a new strategy for operations in Belarus in 2016-2019. The document abolished the calibrated approach, which restricted EBRD operations with the public sector. Belarus and the EBRD have been implementing a number of projects in utilities industry, energy saving, transport infrastructure and environment protection.
The Free Economic Zone Minsk (over 2,791 hectares in area) was established on March 2, 1998 at the initiative of the Minsk City and Minsk Regional Executive Committees. The FEZ is located on 23 sites in Minsk and the Minsk Oblast near Fanipol, Molodechno, Borisov, Zhodino and Smolevichi. The FEZ numbered 117 resident companies as of June 11, 2020. End