LONDON, 10 June (BelTA) – A foreign investment council may be set up in Belarus with the help of the European Bank for Reconstruction and Development (EBRD). The Belarusian government and the EBRD are working on the appropriate memorandum, BelTA learned from head of the EBRD representative office in Belarus Alexander Pivovarsky on the Belarus Capital Markets Day at London Stock Exchange.
“During the visit of EBRD President Suma Chakrabarti to Minsk, we suggested setting up a new agency. We got a feeling that Belarus was ready for it. We would like it to meet the best standards,” Alexander Pivovarsky said.
The council may include representatives of both the Belarusian government and the international investment community. The format of the council is to be negotiated.
According to Alexander Pivovarsky, given a favorable environment and positive decision on all the procedures, the foreign investment council will be able to hold its first meeting in 2019.
“A dialogue with investors is very important. We see tough competition for foreign capital in the world today. We need to use all the tools to show the country, attract investors,” Alexander Pivovarsky said.
Since the EBRD began working in Belarus in 1992, the bank has invested over €2.4 billion in 112 projects implemented in various branches of the national economy.
The EBRD is an international bank, which facilitates the development of the private sector and entrepreneurship initiative in 38 economies on three continents. The EBRD shareholders include 67 countries, the European Union, and the European Investment Bank.
