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11 Aug 2015

Eurasian Development Bank head to visit Belarus on 13-14 August

MINSK, 11 August (BelTA) – A delegation of the Eurasian Development Bank (EDB) headed by Chairman of the Management Board Dmitry Pankin will visit Belarus on 13-14 August, BelTA learned from the EDB press center.

"During the visit the EDB head is set to hold working meetings with members of the government of Belarus," the press center informed. The Bank is also planning to sign an agreement with OAO BelAZ during the visit.

The Chairman of the EDB Management Board is scheduled to give a press briefing dedicated to the results of the visit to Belarus on the evening of 13 August.

As was reported, Belarus applied for a new loan in the amount of $3 billion to the EurAsEC Anticrisis Fund (later renamed to the Eurasian Fund for Stabilization and Development – note by BelTA) in the first half of 2015. In early July, the Eurasian Development Bank reported that the Eurasian Fund for Stabilization and Development was preparing a note on Belarus’ loan application to the EFSD.

Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth and the expansion of mutual trade and other economic ties in its member states. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.

As large as $8.513 billion, the Eurasian Fund for Stabilization and Development was instituted by the governments of Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan on 9 June 2009. The EFSD aims to assist the participating states in overcoming consequences of the global financial crisis, securing their economic and financial stability, and supporting integration processes in the region.

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