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EBRD might finance bridge renovation projects in Belarus

20.12.2019

The European Bank for Reconstruction and Development (EBRD) might earmark funds to renovate bridges in Belarusian regions, Head of the EBRD Office in Belarus Alexander Pivovarsky told the STV TV channel, BelTA has learned.

Speaking about the infrastructure projects implemented in Belarus with the help of the EBRD, he noted that some projects are similar to each other: "We have now an entire package of these projects and some of them are similar to each other. For example, we will finance the national-level bridges, however there are also municipal bridges. We are also considering a project involving municipal bridges."

Belarus has already launched a project to renovate M10 Road with the help of the EBRD. According to Alexander Pivovarsky, after a list of potential private partners is finalized, the government will select one of them. "I believe this can be done by the end of next year," he said.

Alexander Pivovarsky noted that the bank is happy with its cooperation with Belarus. "Belarus is a reliable and predictable partner. It always delivers on its promises," he said.

A reminder, on 3 December a credit agreement was signed following a meeting between Belarus Prime Minister Sergei Rumas and EBRD First Vice President Jurgen Rigterink. The European Bank for Reconstruction and Development will earmark €259 million to rehabilitate 12 bridges and M3 Road in Belarus.

The first tranche of €126 million will be spent on the reconstruction and modernization of 12 bridges. It is expected that the reconstruction could begin as early as 2020 after the necessary procedures are completed.

The second tranche of €133 million is intended to renovate M3 Road connecting Minsk and Vitebsk. These funds will be used to reconstruct the 47-kilometer section of the road.

The EBRD is an international bank, which facilitates the development of the private sector and entrepreneurship initiative. The EBRD shareholders include 69 countries, the European Union, and the European Investment Bank. Since the EBRD began working in Belarus in 1992, the bank has invested nearly €2.7 billion in 119 projects implemented in various branches of the national economy.

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