Alexander Lukashenko meets with EBRD President

18 февраля 2015

By Ilona Krasutskaya: The European Bank for Reconstruction and Development is the major investor in the region aiming at developing the private sector. Apart from allocating its own funds, the Bank attracts significant amounts of foreign direct investments. For almost a quarter century, the financial institution has been supporting economic transformations in Central and Eastern Europe, the EU, the USA and Japan being among its major shareholders.

Belarus joined the organization in 1992, and now the Bank is firmly entrenched in the top largest investors. During over 20 years of partnership, the EBRD has implemented 70 major projects, including the Stadler Minsk plant, investing more than 1.5 billion euros in Belarusian economy. The volume of investments has increased fourfold in the past three years.

In 2013, the Bank under the leadership of Suma Chakrabarti approved a new strategy for Belarus aimed exclusively at private sector financing. During his first visit to Belarus, the EBRD President discussed a number of specific projects with Alexander Lukashenko. Housing sector projects, transport system modernization and agricultural business are likely to become promising cooperation areas.

The attractiveness of Belarus as a transit corridor has increased significantly primarily due to the events in the neighboring Ukraine. Alexander Lukashenko invited the Bank to participate in modernizing transport corridors.

The EBRD is ready to become a business consultant for Belarusian brands. More than 100 Belarusian companies have already benefited from the offer.

Suma Chakrabarti also held talks with Belarusian Foreign Minister and gave an interview to Belarusian journalists.

One of the most significant results achieved during his two-day visit is the fact that financial support will from now on be provided not only to private companies but also to state-owned enterprises. A new strategy for the Belarus-EBRD relations until 2018 and a number of new projects will be discussed during the next meeting with the Bank’s Board of Directors.