Belarus May Lose Hundreds of Millions of Euros Due to the Break in Cooperation With the EBRD

The reputable financial organization planned to allocate more than € 400 million for Belarusian projects.

The European Bank for Reconstruction and Development is one of the few European financial organizations that cooperated with the Belarusian authorities, writes gazetaby.com.

Money was most often invested in infrastructure projects - moreover, the financing of Belarus from the EBRD increased every year.

For example, in 2018, the EBRD invested € 360 million in Belarusian projects.

In 2019, the bank's investments in Belarus amounted to more than 400 million euros.

And in 2020, the authoritative financial organization planned to allocate the same amount for Belarusian projects.

However, on September 17, the deputies of the European Parliament condemned the current authorities of Belarus for the falsification of elections and police brutality in the country.

Among other things, the European Parliament proposed to freeze the transfer of EU funds to state or state-controlled organizations. And also stop government loans from the European Investment Bank and the EBRD.

Despite the fact that the European parliamentarians' decision is advisory in nature, the bankers may well heed it - and if not stopped, then significantly reduce the financing of projects in Belarus. That will cost the Belarusian authorities hundreds of millions of dollars in lost investments per year.