OREANDA-NEWS. June 21, 2010. Before the CIS Economic Council meting Eurasian Development Bank (EDB) and the Government of Belarus signed the Agreement on the EDB presence term in Belarus. The document has been signed by Belarus Prime Minister Andrei Kobyakov and EDB Managing Board Chairman Igor Finogenov, reported the press-centre of KASE. 

The Agreement creates favorable conditions for EDB activities, and defines its status, immunities, benefits in Belarus, which voluntarily joined the Agreement on EDB establishment in February 2009.

The similar agreements the Bank signed with governments of EDB member countries - Russia, Kazakhstan, Tajikistan and Armenia.

The Agreement allows EDB opening its representation in Belarus and work out investment projects in the country.

At present EDB is implementing the large investment project to fund delivery of trucks BelAZ to strip mines in the size of USD55 m. EDB also implements an expertise of large investment projects in Belarus that comply with its mission and strategy.

"EDB is ready for implementation of large investment projects in Belarus, - said EDB Managing Board Chairman Igor Finogenov. - First of all, projects in energetic, chemistry and machinery. In particular, has been developed and ready for signing the projects on construction of Polotsk hydropower station on Zapadnaya Dvina River to the amount of USD100 m. in addition, the Managing Board of EDB approved the project on trade funding of Russian company SAREKS to procure in Minskiy Tractor Plant of tractor kits to the amount of USD50 m. Signed today Agreement will allow EDB launching active operations in Belarus.

Main conditions for EDB involvement in projects include their economic feasibility, development potential, modernization and competitiveness of the national economy of Belarus, and its integration of EDB members countries.