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EBRD investments in Belarus to hit new record in 2019

Economy 04.12.2019 | 18:44
Jurgen Rigterink
Jurgen Rigterink

MINSK, 4 December (BelTA) – The European Bank for Reconstruction and Development (EBRD) will break its last year's record of investing in the Belarusian economy in 2019, EBRD First Vice President Jurgen Rigterink told the media on 4 December, BelTA has learned.

“The current portfolio of our operations in the country exceeds €2.7 billion in more than 120 projects. We can see rapidly accelerating investment volumes. Last year was a record one in terms of EBRD investment in the Belarusian economy - €360 million. This year, however, we will definitely exceed last year's record thanks to the signing of the loan agreement [to rehabilitate bridges and M3 Road in Belarus] yesterday,” said Jurgen Rigterink.

It is estimated that the volume of EBRD investments in Belarus may total some €400 million in 2019.

According to him, Belarus is always in the center of the bank's interests, and the recent years have witnessed intensified interaction with the country's government bodies. During the current visit, Jurgen Rigterink discussed the EBRD's assistance to privatization efforts in Belarus, as well as its assistance under energy efficiency programs. Preparations are underway for the first meeting of Belarus' Foreign Investment Council, which is due in February 2020.

The EBRD is an international bank, which facilitates the development of the private sector and entrepreneurship initiative. The EBRD shareholders include 69 countries, the European Union, and the European Investment Bank. The EBRD is the largest institutional investor in the Belarusian economy.

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