The European Bank for Reconstruction and Development (EBRD) is the international financial institution with Headquarters in London. It was established in 1991 in response to major changes in the political and economic climate in Central and Eastern Europe and to support the development of market economies in the region.
The main shareholders are USA, EU-countries and Japan. The Republic of Belarus is the EBRD member since 1992. EBRD Office in Belarus was established in 1994. The cooperation with the Bank is based on the Memorandum of Understanding between the Government of the Republic of Belarus and the EBRD dated February 19, 1993, as well as on the country strategies that are updated every three years and define the main activities of the Bank in Belarus.
Mr.Vladimir Semashko, First Deputy Prime Minister of Belarus, is the EBRD Governor for Belarus. Mr. Nikolay Snopkov, Minister of Economy, is the Alternate Governor for Belarus. Under the Resolution of the Council of Ministers of the Republic of Belarus No.1504 dated October 30, 2002, the Ministry of Economy is national official body, which works with EBRD.
In March 2013 the Board of Directors of the EBRD approved a new Strategy for Belarus for 2013 – 2015. The activities of the Bank will be focused on the financing of the private sector. The EBRD has an opportunity to work in the public sector (environmental, energy and infrastructure projects).
An example of Bank’s successfulwork in Belarus is the project of the financing of the municipal sector ”Belarus: environmental infrastructure project — the first phase“ that provide the upgrade of water supply and sanitary services in Brest, Vitebsk, Grodno and the introduction of biogas plants for sanitary services in Baranovichi and Slonim.
During the period of its activity in Belarus, EBRD took part in implementation of 66 projects. The total value of the declared projects is €1 billion 502.4 million. In 2013 the EBRD invested €255 million. As of September 2014 the Bank had committed €160.5 million.
Several significant investment projects are launched together with the EBRD: in the field of wood processing (plant Kronospan), beverage (brewery Heineken) and rolling stock (OJSC Stadler Minsk).
The progress and prospects of the Bank's Strategy for the Republic of Belarus, the implementation of current and new investment projects were discussed during the consultative visit to Belarus of the representatives of the EBRD Board of Directors held on 22-26 September 2014.