EDB ready to finance Belarus’ public projects frozen by European banks
<p> MINSK, Nov 19 - PrimePress. The Eurasian Development Bank (EDB) is ready to consider the possibility of financing public projects in Belarus, which the Belarusian government planned to implement with the participation of European banks. </p> <p> </p> <p> EDB Director for Belarus Vladimir Yermolovich made a statement to this effect in an interview for Sputnik Agency. </p> <p> </p> <p> As previously reported, the European Bank for Reconstruction and Development (EBRD) suspended funding of government projects in Belarus amid the domestic political crisis, and is not yet considering new sovereign projects in the country. At the same time, the EBRD says it will complete the already approved infrastructure deals in the Belarusian public sector. </p> <p> </p> <p> The EBRD’s current loan portfolio in Belarus is approximately €1 billion, with projects in the financial sector, utilities industry, and transport infrastructure. </p> <p> </p> <p> “If the government or representatives of Belarusian business apply to the EDB with a request to consider the possibility of co-financing or full financing of projects that were prepared for implementation with the participation of European banks, we will certainly consider such proposals and, if possible, take part in it,” said Yermolovich. </p> <p> </p> <p> Yermolovich also said that the EDB has recently been pre-qualified in a tender announced by the Ministry of Transport of Belarus for the project of reconstruction and maintenance of the M10 highway (the border of the Russian Federation (Selishche) - Gomel - Kobrin) in the framework of a public-private partnership. </p> <p> </p> <p> As of October 1, 2020, the EDB’s Belarus investment portfolio stood at $940 million and the bank estimates that by the end of the year it may exceed $1 billion. </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>
2020-11-20
Primepress
MINSK, Nov 19 - PrimePress. The Eurasian Development Bank (EDB) is ready to consider the possibility of financing public projects in Belarus, which the Belarusian government planned to implement with the participation of European banks.
EDB Director for Belarus Vladimir Yermolovich made a statement to this effect in an interview for Sputnik Agency.
As previously reported, the European Bank for Reconstruction and Development (EBRD) suspended funding of government projects in Belarus amid the domestic political crisis, and is not yet considering new sovereign projects in the country. At the same time, the EBRD says it will complete the already approved infrastructure deals in the Belarusian public sector.
The EBRD’s current loan portfolio in Belarus is approximately €1 billion, with projects in the financial sector, utilities industry, and transport infrastructure.
“If the government or representatives of Belarusian business apply to the EDB with a request to consider the possibility of co-financing or full financing of projects that were prepared for implementation with the participation of European banks, we will certainly consider such proposals and, if possible, take part in it,” said Yermolovich.
Yermolovich also said that the EDB has recently been pre-qualified in a tender announced by the Ministry of Transport of Belarus for the project of reconstruction and maintenance of the M10 highway (the border of the Russian Federation (Selishche) - Gomel - Kobrin) in the framework of a public-private partnership.
As of October 1, 2020, the EDB’s Belarus investment portfolio stood at $940 million and the bank estimates that by the end of the year it may exceed $1 billion.
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