EDB to finance industrial cooperation projects in Belarus in 2023

December 12, BPN. The Eurasian Development Bank (EDB) plans to finance projects worth $1.5 billion in 2023 in Belarus, EDB Chairman Nikolai Podguzov told Belarus 1.

He noted that funding will be approved based on communication with borrowers and the situation on financial markets.

Podguzov said that the EDB prioritizes industrial cooperation projects, noting Belarus’ traditional strengths in industries and IT. The EDB will allocate about $180 million for the production of extra-resistant paper at the Svietłahorsk Pulp and Paper Mill in the Homiel region, he said adding that its products should sell well both in Russia and in Kazakhstan.

The Svietłahorsk Pulp and Paper Mill is a major producer of bleached pulp, cardboard, boxes, and other paper products. It had been built with a Chinese loan, giving rise to concerns about environmental risks among local residents.