Lukashenko endorses agreements with international investment banks on €180m, $3.653m to finance energy projects
<p> MINSK, Aug 5 - PrimePress. President of Belarus Alexander Lukashenko has approved several agreements with international investment organizations to finance projects in the energy sector to the tune of €180 million and $3.653 million (decree No.296 of August 3, 2020 posted on the National Legal Internet Portal on August 5). </p> <p> </p> <p> The European Investment Bank (EIB) will provide €90 million to the project on the expansion of the sustainable energy use in Belarus (the agreement was signed on November 22, 2019 in London) and €90 million will come from the International Bank for Reconstruction and development (MBRD) (the agreement was signed on November 28, 2019in Minsk). </p> <p> </p> <p> According to the decree, the Brest Regional Executive Committee will receive €25.5 million euros; Vitebsk Oblast Executive Committee - €1.7 million; Gomel Oblast Executive Committee - €25.3 million; Grodno Oblast Executive Committee - €59.8 million; Minsk Oblast Executive Committee - €21.4 million; Mogilev Oblast Executive Committee - €46.3 million. </p> <p> </p> <p> The decree also approved $3.653 million in a grant from the Global Environment Facility for Belinvestenergosberezhenie’s investment project. </p> <p> </p> <p> Belinvestbank OJSC has been designated as an agent bank of the government of Belarus for servicing the EIB loan. Belinvestenergosberezhenie was appointed executive organization in the projects. </p> <p> </p> <p> The decree provides for privileges on VAT and import customs duties on services, works and goods under the above projects for a period until April 30, 2025. </p> <p> </p> <p> The project on the expansion of the sustainable energy use in Belarus envisages the construction and reconstruction of 34 wood-fired boiler houses and thermal modernization of 253 apartment buildings in the Grodno and Mogilev Oblasts. </p> <p> </p> <p> The European Investment Bank (EIB) is a public create and finance institution of the European Union (EU). Established in 1958, the bank provides loans for construction and reconstruction of facilities that are of interest to EU countries. A framework agreement between Belarus and the European Investment Bank was signed in May 2017. </p> <p> </p> <p> The IBRD is the main lending institution of the World Bank (WB). Cooperation between Belarus and the WB is currently based on the WB Group Partnership Strategy for 2018-2022, adopted in 2018. According to the Ministry of Economy of Belarus, over the entire period of cooperation from 1992 to 2019, WB’s total investment in the Belarusian economy amounted to over $1.7 billion. Currently, the WB investment portfolio in Belarus includes eight projects totaling $843.41 million. End </p>
2020-08-05
Primepress
Lukashenko endorses agreements with international investment banks on €180m, $3.653m to finance energy projects
MINSK, Aug 5 - PrimePress. President of Belarus Alexander Lukashenko has approved several agreements with international investment organizations to finance projects in the energy sector to the tune of €180 million and $3.653 million (decree No.296 of August 3, 2020 posted on the National Legal Internet Portal on August 5).
The European Investment Bank (EIB) will provide €90 million to the project on the expansion of the sustainable energy use in Belarus (the agreement was signed on November 22, 2019 in London) and €90 million will come from the International Bank for Reconstruction and development (MBRD) (the agreement was signed on November 28, 2019in Minsk).
According to the decree, the Brest Regional Executive Committee will receive €25.5 million euros; Vitebsk Oblast Executive Committee - €1.7 million; Gomel Oblast Executive Committee - €25.3 million; Grodno Oblast Executive Committee - €59.8 million; Minsk Oblast Executive Committee - €21.4 million; Mogilev Oblast Executive Committee - €46.3 million.
The decree also approved $3.653 million in a grant from the Global Environment Facility for Belinvestenergosberezhenie’s investment project.
Belinvestbank OJSC has been designated as an agent bank of the government of Belarus for servicing the EIB loan. Belinvestenergosberezhenie was appointed executive organization in the projects.
The decree provides for privileges on VAT and import customs duties on services, works and goods under the above projects for a period until April 30, 2025.
The project on the expansion of the sustainable energy use in Belarus envisages the construction and reconstruction of 34 wood-fired boiler houses and thermal modernization of 253 apartment buildings in the Grodno and Mogilev Oblasts.
The European Investment Bank (EIB) is a public create and finance institution of the European Union (EU). Established in 1958, the bank provides loans for construction and reconstruction of facilities that are of interest to EU countries. A framework agreement between Belarus and the European Investment Bank was signed in May 2017.
The IBRD is the main lending institution of the World Bank (WB). Cooperation between Belarus and the WB is currently based on the WB Group Partnership Strategy for 2018-2022, adopted in 2018. According to the Ministry of Economy of Belarus, over the entire period of cooperation from 1992 to 2019, WB’s total investment in the Belarusian economy amounted to over $1.7 billion. Currently, the WB investment portfolio in Belarus includes eight projects totaling $843.41 million. End