EBRD suspends lending to state projects in Belarus amid domestic political crisis
<p> MINSK, Nov 18 - PrimePress. The European Bank for Reconstruction and Development (EBRD) has suspended funding of government projects in Belarus amid the domestic political crisis, and is not yet considering new sovereign projects in the country, the bank says in a statement. </p> <p> </p> <p> The bank calls on Belarus to continue fulfilling all its international obligations. The EBRD is still investing in private sector projects in Belarus. Funding of state project has been suspended for a while now. We are not considering new sovereign projects in the country, an EBRD spokesperson told Interfax. </p> <p> </p> <p> The EBRD says it will complete the already approved infrastructure deals in the Belarusian public sector. </p> <p> </p> <p> As previously reported, Foreign Minister of Belarus Vladimir Makei said on November 17, 2020 that the country suspended dialogue with the European Union (EU) on human rights, among other things, due to the EU decision to freeze financial and investment cooperation programs between Belarus, the EBRD and the European Investment Bank. </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 €2.9 billion in 137 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 the financial sector, utilities industry, and transport infrastructure. End </p>
2020-11-18
Primepress
EBRD suspends lending to state projects in Belarus amid domestic political crisis
MINSK, Nov 18 - PrimePress. The European Bank for Reconstruction and Development (EBRD) has suspended funding of government projects in Belarus amid the domestic political crisis, and is not yet considering new sovereign projects in the country, the bank says in a statement.
The bank calls on Belarus to continue fulfilling all its international obligations. The EBRD is still investing in private sector projects in Belarus. Funding of state project has been suspended for a while now. We are not considering new sovereign projects in the country, an EBRD spokesperson told Interfax.
The EBRD says it will complete the already approved infrastructure deals in the Belarusian public sector.
As previously reported, Foreign Minister of Belarus Vladimir Makei said on November 17, 2020 that the country suspended dialogue with the European Union (EU) on human rights, among other things, due to the EU decision to freeze financial and investment cooperation programs between Belarus, the EBRD and the European Investment Bank.
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 €2.9 billion in 137 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 the financial sector, utilities industry, and transport infrastructure. End