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14 October 2021, 15:24

Lukashenko suggests revising Eurasian Development Bank's operating model

An archive photo
An archive photo

MINSK, 14 October (BelTA) – The way the Eurasian Development Bank operates should be changed, Belarusian President Aleksandr Lukashenko said at the expanded session of the Supreme Eurasian Economic Council on 14 October, BelTA informs.

According to the head of state, the financial infrastructure of the Eurasian Economic Union requires further improvements, including with a view to supporting partnerships in the manufacturing industry. To increase the number of joint projects with a high integration component, it is necessary to give access to project financing in the form of long-term loans with a preferential interest rate, the president believes.

“To do this, it is necessary to change the way the Eurasian Development Bank operates. The main drawbacks of its current operating model are the high threshold for financing projects and the absence of a preferential interest rate on loans,” Aleksandr Lukashenko said.

In addition to that, it is necessary to more actively involve national development institutions in joint research, the head of state suggested.

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