MINSK, 16 February (BelTA) - The Eurasian Development Bank (EDB) and Minskenergo signed a €101.2 million long-term loan facility agreement, BelTA learned from the EDB press service.
To finance the project, the EDB raised a loan from a consortium of leading German banks – KFW IPEX Bank and Landesbank Hessen Thuringen Girozentrale. The loan is insured by EKN, the Swedish Export Credit Agency.
Minskenergo will use the credit purchase the key power equipment under a contract with SIEMENS Energy AB as part of the project to build a 300MW peaking power plant at Combined Heat and Power Plant (CHPP) 5.
The Eurasian Development Bank (EDB) is an international financial institution promoting integration and development in its member countries – Armenia, Belarus, Kazakhstan, the Kyrgyz Republic, Russia, and Tajikistan. The EDB's charter capital totals $7 billion. Transport infrastructure, energy, chemical, mining, and mechanical engineering projects with a high integration effect account for the main part of the EDB's portfolio.
Minskenergo is a vertically integrated state-owned company that produces, transports, distributes, and sells heat and electricity and manages dispatch in the regional energy system of Minsk and Minsk Oblast. Minskenergo is part of the Belenergo state-owned electric power association and is in charge of managing and operating state-owned power plants and electricity and heating grids in Minsk and Minsk Oblast.
