MINSK, 27 September (BelTA) – The Belarusian bank Belinvestbank and the European Bank for Reconstruction and Development (EBRD) have signed a €2 million loan agreement under the Women in Business program, BelTA has learned.
The €2 million senior loan will help Belinvestbank finance the development of women's entrepreneurship in Belarus. The program funded by the EBRD, the EU, Sweden and the EBRD Early Transition Countries Fund is available to women-led SMEs and promotes female entrepreneurship by providing access to finance and know-how solutions necessary for business growth.
On 27 September, Belinvestbank and the EBRD also signed an €8 million credit line under the Belarus Sustainable Energy Finance Facility (BelSEFF).
Francis Delaey, the EBRD's Head of Office in Belarus, said: “The credit lines extended by the EBRD will promote projects in sustainable energy in the country and also help female entrepreneurs launch and develop their small businesses, which is particularly important for the sustainable growth of the domestic economy.”
The public joint-stock company (OAO) Belinvestbank is one of the largest state-run banks in Belarus. Its operations are aimed at implementing the government's major monetary management guidelines, facilitating international economic cooperation, and providing a wide range of banking services to clients. Belinvestbank has about 150 structural divisions and a representative office in Poland.
The European Bank for Reconstruction and Development (EBRD) was established in 1991. The EBRD invests in projects meant to foster transition to an open market economy and projects designed to develop private business and entrepreneurship. The bank operates in the interests of all the 65 shareholder countries as well as the European Union and the European Investment Bank.
