EBRD halts Belarusian private sector lending

3 mins

На русском языке: ЕБРР приостановил кредитование частного сектора Беларуси
На беларускай мове: ЕБРР прыпыніў крэдытаванне прыватнага сектара Беларусі

Devex media-platform reports that the European Bank of Reconstruction and Development (EBRD) would halt the lending of private sector’s new projects in Belarus.

It is reported that last week, the bank’s management informed shareholders, including the USA, Russia, China, all 27 member states of the EU and the European Commission that it would stop submitting private sector’s projects in Belarus for consideration to the board of directors.

Devex also writes that Russia tried to defend the official Minsk on this issue. According to their sources, as soon as it became clear that none of new projects for Belarus will be admitted by the Council, the management said about its intention not to offer further lending even for private companies. Non-governmental organisations, in turn, welcomed this step.

«The blurred frontier between the governmental and private spheres makes it almost impossible for the EBRD to guarantee the fact that the funds benefit people rather than the regime», – Xavier Sol, the director of Counter Balance, the European coalition of non-governmental organisations, told Devex.

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