MINSK - The total volume of investments poured by the European Bank for Reconstruction and Development (EBRD) into the Belarusian economy in 2019 may exceed €360 million.
Belarusian Prime Minister Sergey Rumas made a statement to this effect at a meeting with EBRD First Vice President Jurgen Rigterink in London on June 11, the newswire BelTA reports.
“We are interested in more EBRD investments both in the public and private sectors. Meeting with Alain Pilloux [EBRD Vice President] yesterday, we agreed that we should work together to raise the bar set last year. If we make an effort, we have everything in place to surpass the €360 million target,” said Rumas.
The total volume of EBRD business operations in Belarus in 2018 reached €360 million. Belarus plans to sign project agreements worth €430 million with the EBRD in 2019-2020 to facilitate the upgrade of the M3 Minsk-Vitebsk motorway and a number of bridges.
Besides, the bank is interested in financing a project to reconstruct water supply and water treatment facilities in Belarusian cities and towns, and a district heating rehabilitation project.
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.