ECB Pledges USD 700m Credit Portfolio for Belarus Real Economy in 2013
OREANDA-NEWS. September 14, 2012. Russia-led Eurasian Development Bank (EDB) has made a point of expanding its credit portfolio for Belarus' real economy sector to USD 700 million in 2013, EDB local representative Viktor Guliayev announced Wednesday.
The bank plans to support industrial reconstruction projects in Belarus.
The bank boosted its overall investment portfolio by more than 16% to USD 3.28 billion in January–June 2012.
The total volume of investments in the economy of the member states exceeded USD 3.91 billion since 2006.
The lender launched 11 projects in 2012, increasing its number of projects to 60 as of June 30.
Investments in transport and transport infrastructure account for 33.92% of the bank's project portfolio, while those in the energy sector make 21.24%. The share of the financial sector stands at over 17%, the chemical industry makes 8.27%, agriculture accounts for 6.88%, while the manufacturing industry makes 5.15%.
The EDB, established by Russia and Kazakhstan in 2006, is an international financial organization, which now also includes Armenia, Belarus and Kyrgyzstan.
The EDB manages the funds of the EurAsEC Anti-crisis Fund.
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