Belarus’ govt counts on takeout financing by EDB – Snopkov
<p> MINSK, Dec 9 - PrimePress. The government of Belarus hopes for takeout financing by the Eurasian Development Bank (EDB), in particular, through credit lines for infrastructure and transport projects, which will not involve the European Investment Bank (EIB) or the European Bank for Reconstruction and Development (EBRD), First Deputy Prime Minister of Belarus Nikolai Snopkov said at the meeting with EDB Chairman of the Board Nikolai Podguzov on December 9, 2020. </p> <p> </p> <p> As previously reported, after the August 9 presidential election in Belarus, the European Union imposed two packages of sanctions against Belarus, including 55 top officials. The sanctions affect financial aspects of Belarus-EU cooperation. They limit financing of government programs in Belarus, including those involving the EBRD and EIB. </p> <p> </p> <p> “The EDB is a very important institution to us now, given that more sanctions lists are under consideration, and there are problems with external financing, especially by Western banks. Of course, we strongly hope for EDB’s assistance,” Snopkov said. </p> <p> </p> <p> The EDB previously stated its readiness to consider takeout financing under credit lines for infrastructure and transport projects, which will not involve the EIB and the EBRD. </p> <p> </p> <p> “Even taking into account our quite large portfolio, we would appreciate assistance and support in this situation,” said Snopkov. </p> <p> </p> <p> The EDB’s investment portfolio in Belarus totaled $940 million as of October 1, 2020. EDB Country Director for Belarus Vladimir Yermolovich said in mid-November that the bank might provide Belarus with additional targeted funding to mitigate coronavirus pandemic impacts, particularly, to support health care and industries hit by the pandemic. </p> <p> </p> <p> The Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The EDB charter capital totals US $7 billion. The bank’s member states are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. End </p> <p> </p>
2020-12-10
Primepress
Belarus’ govt counts on takeout financing by EDB – Snopkov
MINSK, Dec 9 - PrimePress. The government of Belarus hopes for takeout financing by the Eurasian Development Bank (EDB), in particular, through credit lines for infrastructure and transport projects, which will not involve the European Investment Bank (EIB) or the European Bank for Reconstruction and Development (EBRD), First Deputy Prime Minister of Belarus Nikolai Snopkov said at the meeting with EDB Chairman of the Board Nikolai Podguzov on December 9, 2020.
As previously reported, after the August 9 presidential election in Belarus, the European Union imposed two packages of sanctions against Belarus, including 55 top officials. The sanctions affect financial aspects of Belarus-EU cooperation. They limit financing of government programs in Belarus, including those involving the EBRD and EIB.
“The EDB is a very important institution to us now, given that more sanctions lists are under consideration, and there are problems with external financing, especially by Western banks. Of course, we strongly hope for EDB’s assistance,” Snopkov said.
The EDB previously stated its readiness to consider takeout financing under credit lines for infrastructure and transport projects, which will not involve the EIB and the EBRD.
“Even taking into account our quite large portfolio, we would appreciate assistance and support in this situation,” said Snopkov.
The EDB’s investment portfolio in Belarus totaled $940 million as of October 1, 2020. EDB Country Director for Belarus Vladimir Yermolovich said in mid-November that the bank might provide Belarus with additional targeted funding to mitigate coronavirus pandemic impacts, particularly, to support health care and industries hit by the pandemic.
The Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The EDB charter capital totals US $7 billion. The bank’s member states are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan. End