MINSK, 1 April (BelTA) – The European Bank for Reconstruction and Development (EBRD) will provide a seven-year €15-million loan to build a sawmill near Mozyr, Belarus, BelTA learned from the EBRD press service.
“In order to improve competitiveness of the Belarusian woodworking industry, a sawmill will be built in the south of Belarus with the assistance of the EBRD. The new private enterprise will be set up at an existing facility near the city of Mozyr. The new sawmill of the Estonian company Kaamos Timber (KT) AS will annually produce around 250,000m3 of lumber from coniferous trees,” the EBRD press service said.
The output of the sawmill will be bound for export. The enterprise is expected to create around 100 new jobs and increase the annual output of lumber from coniferous trees of KT in Belarus to 450,000m3. “The EBRD has cooperated with the company for over two decades and successfully implemented a similar project in the north of Belarus, in Vitebsk,” the press service noted.
The EBRD is a multilateral bank that fosters the development of the private sector and business initiative. The EBRD shareholders include 69 countries, the European Union, and the European Investment Bank.
