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08 August 2022, 19:25

EDB project portfolio in Belarus exceeds $2bn

MINSK, 8 August (BelTA) - The project portfolio of the Eurasian Development Bank (EDB) in Belarus exceeds $2 billion, Chairman of the EDB Board Nikolai Podguzov told BelTA.

“The bank's project portfolio in Belarus is actively expanding. In the accumulated portfolio the country's share in the bank's total portfolio is 18.9% or $2.216 billion. Therefore, there are many projects. These are projects in industry and foodstuffs. We are currently looking at financing a project to expand the manufacturing capacity of the pulp and paperboard mill in Svetlogorsk,” said Nikolai Podguzov.

According to him, the export of industrial products from Belarus is a very important theme for the bank. “Industrial products from Belarus are traditionally in demand in the Eurasian space. That is why there are quite a lot of projects under consideration. We do not stop our work here,” said the chairman of the EDB board.

According to Nikolai Podguzov, the EDB welcomes cooperative projects in the Eurasian Economic Union. “For example, the conclusion of an agreement between the bank and Tashir Group in Yerevan on the production of network meters envisages an important Belarusian electronic component. This project is an example of cooperation within the EAEU,” he stressed.

The Eurasian Development Bank (EDB) is an international financial institution engaged in investment activities in the Eurasian space. For 15 years already, the EDB has been promoting the strengthening and expansion of economic ties and comprehensive development of its member countries: Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan. The EDB has an authorized capital of $7 billion. The EDB's portfolio is mainly represented by integration projects in the areas of transport infrastructure, digital systems, green energy, agriculture, industry and mechanical engineering. The bank is guided in its activities by the UN Sustainable Development Goals and ESG principles.

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