Belarus, EBRD sign agreements to expand cooperation

13.06.2019 10:25 / Belarus / United Kingdom

MINSK - Three agreements to promote cooperation between Belarus and the European Bank for Reconstruction and Development (EBRD) has been signed early this week in the framework of Belarusian Prime Minister Sergey Rumas’ visit to the United Kingdom of Great Britain and Northern Ireland on June 10-11.

Belarus’ government says in the press-release that Premier Rumas has signed a memorandum of understanding in part of cooperation to support Belarus' foreign investment council. The council will become a new body to promote the dialogue with the investors' community.

Under the agreement signed on June 11, the EBRD allocates €15.5 million of the Vitebsk Oblast Clean Water project. The loan will be used to finance the Vitebskoblvodokanal investment program that will help improve the quality of water to meet the standards of the European Union and the World Healthcare Organization.

The volume of EBRD business operations in Belarus has increased from €50m four years ago to €360m last year, and the latest parcel of Belarus-EBRD agreements reflect the current level of harmonious relations with Belarus and its people, said EBRD First Vice President Jurgen Rigterink.

In his words, the EBRD’s volume of business operations in Belarus will hopefully be at least €350 million.

Since the start of its operations in Belarus in 1992, the EBRD has invested over €2.4 billion in 115 projects in various sectors of the country’s economy. In 2016 the EBRD adopted a new strategy for operations in Belarus in 2016-2019. The document abolished the calibrated approach, which restricted EBRD operations with the public sector. Belarus and the EBRD have been implementing a number of projects in utilities industry, energy saving, transport infrastructure and environment protection.

Source: PrimePress

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