EBRD to continue cooperation with Belarus

The EBRD confirms further cooperation with Belarus, announced chief of the EBRD Office in Belarus Valdas Vitkauskas.

According to Valdas Vitkauskas, the EBRD remains committed to implementing specific projects in Belarus. He noted that a country strategy for development of cooperation between the EBRD and the Republic of Belarus was adopted in December 2009. The EBRD will continue working within the framework of this strategy. “The strategy remains in force, and we are guided by it,” Valdas Vitkauskas said. The major objectives of the EBRD in Belarus are to continue cooperation under the deals that have been already initiated and boost cooperation with Belarusian financial institutions in areas such as the promotion of trade finance support to small and medium-sized business. The new emphasis will be on energy efficiency projects. Special support will be provided to projects in renewable and alternative energy. Work will be continued with private companies. “The EBRD is willing to finance any good, reliable project in Belarus,” Valdas Vitkauskas said.

All in all, the EBRD has opened $150 million worth of credit lines to Belarusian banks and carried out about 200 transactions with Belarusian banks. “There is still room to expand, although these are significant figures,” Valdas Vitkauskas said.

Today the EBRD and BPS-Bank signed an agreement on a guarantee credit line to the Belarusian bank for trade finance and an agreement on a revolving credit. This program is important for macroeconomic development of Belarus, as it will facilitate export-import operations and will be the source of the strong economic growth in Belarus, Valdas Vitkauskas said.

He expressed hope that the BPS-Bank and the EBRD will soon devise new products, which will be no less interesting for the bank and its customers, including no less by volume.

Speaking about the terms of financing, Valdas Vitkauskas stressed that they comply with the conditions prevailing in the market.

According to www.belta.by