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Opinions & Interviews

4 Mar 2019

Belarus among ten biggest recipients of EBRD investment

Belarus among ten biggest recipients of EBRD investment

MINSK, 4 March (BelTA) – Belarus is in the Top 10 countries with the biggest amount of investment by the European Bank for Reconstruction and Development (EBRD), EBRD President Suma Chakrabarti told reporters following his meeting with Belarus President Alexander Lukashenko on 4 March, BelTA has learned.

“Since my first meeting with the Belarusian president in 2015, our investment in the Belarusian economy has increased considerably. Last year the investment hit a record high $400 million. Thus, Belarus made it to the Top 10 countries with the biggest amount of the EBRD investment,” Suma Chakrabarti said.

In his words, this is attributed to the strategic course and efficient policy implemented in Belarus. A stable political and macroeconomic situation in the country was an important part of investors’ considerations. “If we agree on something with the president and the government of Belarus, we are 100% sure that this will be translated into practice. In many other countries the situation is different. Politics in Belarus is very stable. If a decision is taken, it will always come to fruition. This is very good for the investment climate and is very encouraging for foreign investors,” Suma Chakrabarti said.

Top on the agenda of today’s meeting was the EBRD participation in various projects. In particular, the Bank has plans to invest in infrastructure projects to renovate bridges in Belarus.

Belarus’ Economy Minister Dmitry Krutoi told reporters that the project to fund the renovation and construction of bridges in Belarus had already been discussed with the EBRD management. Some of these bridges are operated by the Transport and Communications Ministry; others are run by housing and utilities departments of the oblast executive committees. Two major projects - estimated at a total of €150-160 million – will cover 60 bridges, the minister informed.

Apart from that, Minsk and the EBRD are implementing a municipal project to upgrade the water supply and disposal systems, renovate and improve heat insulation in the housing stock. If the project in the capital city is a success, similar initiatives might be launched in other cities.

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