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16 Apr 2019

Belarus to borrow €260m from European Investment Bank in 2019

Belarus to borrow €260m from European Investment Bank in 2019

MINSK, 16 April (BelTA) – Belarus is set to sign loan agreements worth €260 million with the European Investment Bank. The loans will be used to finance new infrastructure projects in energy, housing and utilities and transport, BelTA learned from the press service of the Economy Ministry.

Economy Minister Dmitry Krutoi took part in the Spring Meetings of the Boards of Governors of the International Monetary Fund and the World Bank Group in Washington. On the sidelines of the meetings he held talks with European Investment Bank Vice-President Vazil Hudak to discuss cooperation prospects and ways to increase EIB investment in the Belarusian economy.

The parties also reviewed progress in drafting new infrastructure projects in energy, housing and utilities, and transport. This year Belarus and the European Investment Bank are to sign loan agreements worth about €260 million to finance the abovementioned projects.

Speaking about promising avenues of cooperation, the minister mentioned financing of SMEs. In 2018 the European Investment Bank transferred €75 million to Belagroprombank and Belarusbank to support small and medium-sized enterprises in Belarus. Vazil Hudak said he is ready to consider new proposals of Belarus.

Dmitry Krutoi invited Vazil Hudak to pay a visit to Belarus in the near future.

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