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22 Jul 2020

EBRD’s investments in Belarusian economy up to €160m in H1 2020

EBRD’s investments in Belarusian economy up to €160m in H1 2020
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MINSK, 22 July (BelTA) – In H1 2020 the European Bank for Reconstruction and Development (EBRD) increased investments in the Belarusian economy by more than two times up to €160 million, the EBRD press service told BelTA.

The sum of EBRD investments in Belarus reached €160 million in H1 2020, up from €67 million in H1 2019. The change demonstrates the EBRD’s prompt reaction to needs of the developing economies that are dealing with consequences of the coronavirus.

On the whole, in H1 2020 the EBRD volume of funding exceeded €5 billion while in H1 2019 the figure stood at €3.7 billion. The previous record first half of the year was registered in 2016 – €3.9 billion. The EBRD’s investments are aimed at facilitating stable and inclusive development of the private sector in 38 countries with a developing economy.

The EBRD estimates that the COVID-19 pandemic had caused devastating consequences in the regions the EBRD operates. The latest projections the bank released in May warn that unprecedented uncertainty has emerged in the economy.

In March 2020 the EBRD presented a solidarity package – a number of measures to support clients amid the pandemic. One of the key components is the framework mechanism for providing liquidity and floating assets to EBRD clients. In June alone the sum of money lent thanks to the new mechanism exceeded €1 billion. EBRD stated in April that the bank will put every effort into fighting the COVID-19 pandemic and intends to invest about €21 billion in it in 2021.

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