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Eurasian Development Bank to help sell 5,000 Belarusian lifts to Russia

Economy 29.11.2019 | 18:22
An archive photo
An archive photo

MOSCOW, 29 November (BelTA) – Within the next two years the Eurasian Development Bank (EDB) intends to finance the sale of 5,000 lifts made by OAO Mogilevliftmash to Russia. The relevant memorandum was signed on the sidelines of the 14th international conference Eurasian Economic Integration on 29 November, BelTA has learned.

The memorandum was signed by EDB Chairman of the Board Andrei Belyaninov, Chairman of the Public Council under the Russian Construction Ministry Sergei Stepashin, Ambassador Extraordinary and Plenipotentiary of Belarus to Russia Vladimir Semashko, and State Secretary of the Union State of Belarus and Russia Grigory Rapota.

The Eurasian Development Bank intends to finance the accelerated replacement of 5,000 lifts in apartment houses. The bank intends to allocate RUB10 billion during the first stage in 2020 as zero-interest installment plans for the period of up to 60 months without owners of the apartments having to pay extra.

Vladimir Semashko noted that the project will allow the Belarusian lift manufacturer Mogilevliftmash to secure additional orders on the Russian market. The company made over 14,000 lifts in 2018. Mogilevliftmash opened three joint ventures to make lifts in Russia in 2019. They will also be able to take part in the program on the accelerated replacement of lifts in Russian apartment houses.

The Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with a view to facilitating the development of market economies in the member states, their sustainable economic growth, and the expansion of mutual trade and economic ties. The member states of the bank are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan.

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