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11 Jun 2019

Belarus signs three agreements with EBRD

Belarus signs three agreements with EBRD

LONDON, 11 June (BelTA) – Belarus and the European Bank for Reconstruction and Development are increasing cooperation in various sectors. The appropriate documents were signed at the EBRD headquarters in London following the talks between Belarus Prime Minister Sergei Rumas and EBRD First Vice President Jurgen Rigterink, BelTA has learned.

Belarus’ government has signed a memorandum of understanding with the European Bank for Reconstruction and Development in part of cooperation to support Belarus’ foreign investment council. The council will become a new body to promote the dialogue with the investors’ community.

Under the agreement signed on 11 June, the EBRD allocates €15.5 million of the Vitebsk Oblast Clean Water project. The loan will be used to finance the Vitebskoblvodokanal investment program that will help improve the quality of water to meet the standards of the European Union and the World Healthcare Organization. The program envisages the installation of 80 water de-ironing plants in small settlements before the end of 2022. The loan is part of the EBRD's Belarus Water Sector Framework.

The Belarusian government and the EBRD also signed a memorandum of understanding regarding assistance with the pre-privatization of OAO Vitebskdrev. The EBRD will work out measures to enhance Vitebskdrev investment attractiveness.

The EBRD is an international bank, which facilitates the development of the private sector and entrepreneurship initiative in 38 economies on three continents. The EBRD shareholders include 67 countries, the European Union, and the European Investment Bank. Since the EBRD began working in Belarus in 1992, the bank has invested over €2.46 billion in 114 projects implemented in various branches of the national economy.

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