Updated at 18:18,16-07-2018

Currency market situation to determine Belarus-EDB cooperation


Future cooperation between the Eurasian Development Bank and Belarus will depend on the situation on the currency market, Dmitry Krasilnikov, Managing Director for Corporate Finance of the Eurasian Development Bank, told media on 25 August.

The EDB representative said that the bank had taken part in implementing the first line of projects in Belarus, including those relating to energy effectiveness, development of small and medium businesses, agriculture. The overall investment portfolio in Belarusian projects is estimated at $250 million.

According to Dmitry Krasilnikov, future cooperation with Belarus will depend on the economic situation in the country. So far the bank cannot determine a precise strategy for cooperation with Belarus. "The banks we give money to cannot develop in a normal way in this situation while businesses cannot assimilate the money," said Dmitry Krasilnikov. In his words, Belarus-EDB cooperation can advance, provided the currency market is stabilized.

The Eurasian Development Bank is an international financial organization that was founded in January 2006. The bank’s equity capital exceeds $1.5 billion. The state participants of the bank are Russia, Belarus, Kazakhstan, Tajikistan and Armenia.