Belarusian parliament ratifies agreement with Nordic Investment Bank

At the session Deputy Economy Minister Dmitry Golukhov explained that better cooperation between Belarus and Nordic Investment Bank will enable access to resources of the Support Fund of the Northern Dimension Environmental Partnership. In turn, it will enhance cooperation with the European Union and enable access to new instruments to finance and credit projects in Belarus.

According to the Deputy Economy Minister, Investment Bank specializes in long-term (up to 20 years) financial support for environmental projects and projects aimed at increasing the competitive ability, for instance, energy-saving projects. Nordic Investment Bank tightly cooperates with the World Bank, the European Bank for Reconstruction and Development.

The agreement will allow Belarus to get free of charge resources as grants as large as 25% of the cost of an investment project.

According to the official, Belarus is now working on three investment projects that could use resources of Nordic Investment Bank. Those are projects to reconstruct waste recycling facilities in Brest, Vitebsk and Grodno. They have been approved by the Support Fund of the Northern Dimension Environmental Partnership and can be forwarded for authorization on 3 December once the agreement is ratified. A total of $6 million has been reserved as grants for the Belarusian projects, specified Dmitry Golukhov.

The Belarusian Economy Ministry and the Ministry of Housing and Communal Services are negotiating other projects worth €100 million. For instance, eleven water disposal facilities have been earmarked as possible investment projects of Nordic Investment Bank, with the volume of loans set at €41.8 million.

The Deputy Economy Minister explained that the bank will finance projects in Belarus only upon a written permission of the Belarusian government.

In addition, on 24 November the House of Representatives of the National Assembly gave the first reading to amendments to the law on the state registration of real estate, rights to real estate and deals with real estate. The House of Representatives of the National Assembly also gave the second reading to some bills on assessing the compliance with technical standards. A bill on renewable energy sources was given the second reading.

According to