EDB may provide Belarus with targeted funding to mitigate COVID-19 impacts
<p> MINSK, Nov 16 - PrimePress. The Eurasian Development Bank (EDB) can provide Belarus with targeted funding to mitigate the impacts of the coronavirus pandemic, in particular, to support the health care system and industries affected by the pandemic, the bank says. </p> <p> </p> <p> The EDB is ready to provide targeted funding for the health care infrastructure, government programs to support the affected industries and systemically important enterprises, including preferential lending programs using subsidy mechanisms and government guarantees, reads the statement. </p> <p> </p> <p> Also, the bank is ready to support Belarusian partner banks of the EDB and reduce the requirements for capital adequacy to a level that meets the regulatory requirements of the National Bank of Belarus, provided full disclosure of information about the financial condition of these banks by borrowing banks. </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>
2020-11-16
Primepress
EDB may provide Belarus with targeted funding to mitigate COVID-19 impacts
MINSK, Nov 16 - PrimePress. The Eurasian Development Bank (EDB) can provide Belarus with targeted funding to mitigate the impacts of the coronavirus pandemic, in particular, to support the health care system and industries affected by the pandemic, the bank says.
The EDB is ready to provide targeted funding for the health care infrastructure, government programs to support the affected industries and systemically important enterprises, including preferential lending programs using subsidy mechanisms and government guarantees, reads the statement.
Also, the bank is ready to support Belarusian partner banks of the EDB and reduce the requirements for capital adequacy to a level that meets the regulatory requirements of the National Bank of Belarus, provided full disclosure of information about the financial condition of these banks by borrowing banks.
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