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Belarus eager to implement landmark projects together with European Investment Bank

Economy 20.11.2018 | 16:55
Sergei Rumas (center)
Sergei Rumas (center)

MINSK, 20 November (BelTA) – Belarus counts on implementing landmark projects together with the European Investment Bank (EIB). Prime Minister of Belarus Sergei Rumas made the statement as he met with EIB Vice President Alexander Stubb on 20 November, BelTA has learned.

Sergei Rumas said: “I am convinced that Belarus' cooperation with the European Investment Bank will be exceedingly fruitful in 2019, that the necessary foundation for establishing trustful partnership will be laid. In turn, I would like to assure you that Belarus is always open to a constructive dialogue with the European Investment Bank. I hope we will see a lot of landmark and ambitious projects in the future.”

In his opinion, with the agreements signed today Belarus' cooperation with the EIB has reached new heights. The European Investment Bank and the European Bank for Reconstruction and Development (EBRD) will jointly finance the reconstruction of the Minsk wastewater treatment plant. “It is a very important project for Minsk. Its implementation will allow improving the quality of water reclamation and will have a favorable impact on the environmental situation,” noted the head of government.

The European Investment Bank's agreements with major Belarusian banks – Belarusbank and Belagroprombank – will help support small and medium private companies. “The government pays a lot of attention to encouraging entrepreneurship initiative and stimulating business activities. We see the development of small and medium business as a source of economic growth in the future,” stressed the prime minister.

Alexander Stubb
Alexander Stubb

Plans have been made to finish drafting a transport industry project involving the European Investment Bank. The project provides for reconstructing the M7 Minsk-Oshmyany-Kamenny Log motorway and modernizing the infrastructure in the border checkpoint Kamenny Log.

Apart from that, Belarus is interested in implementing a number of other joint investment projects in the area of housing and utilities as well as energy effectiveness, which enjoy the support of the long-time partner – the World Bank.

The European Investment Bank is one of the world's largest multilateral investment banks. Established in 1958, it is headquartered in Luxembourg. The charter capital of about €250 billion has been formed by 28 European Union member states. About 90% of the bank's projects are implemented in Europe. The bank invested a total of €69.9 billion in 2017.

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