Business news

MINSK, 14 December (BelTA) – The Board of the European Investment Bank has approved the first project in Belarus for reconstructing the M7/E28 motorway and the automobile border checkpoint Kamenny Log. These matters were discussed as Ambassador of Belarus to Belgium with concurrent accreditation to Luxembourg Alexander Mikhnevich met with top executives of the European Investment Bank in Luxembourg, BelTA has learned.

European Investment Bank Vice President Alexander Stubb informed the Belarusian side that the bank’s board approved the project on 11 December. There are plans to agree the text of the credit agreement in December 2017 – January 2018 so that the sides could sign it.

The ambassador also met with Flavia Palanza, Director of the Central and South Eastern Europe Department, Directorate for Operations at the European Investment Bank, and with heads of various sections of the department, which oversees cooperation with Belarus. The sides discussed the current state of affairs, prospects and problems concerning each EIB project in Belarus.

The bank executives spoke highly of the quality of the emerging cooperation with Belarus, the expertise of specialists in the Belarusian Economy Ministry, other government agencies, banks, and other organizations, which are interested in implementing joint projects with the EIB.

The sides agreed to stay in touch in the future with regard to the entire breadth of cooperation between Belarus and the European Investment Bank, which is one of the world’s key financial institutions.