OREANDA-NEWS. February 02, 2011. Belarus is interested in cooperation with the European Bank for Reconstruction and Development, Prime Minister of Belarus Mikhail Myasnikovich said as he met with Paul-Henri Forestier, EBRD Regional Director for the Caucasus, Moldova and Belarus.

“We hope for a very active and constructive cooperation with the EBRD on a reciprocal basis,” Mikhail Myasnikovich said.

Mikhail Myasnikovich noted that Belarus was at the origins of the EBRD. “We are pleased that the Bank has grown into a respected major international financial institution. I think it is in our interest to continue to move the partnership,” the PM said.

With the support of the EBRD, Belarus has successfully implemented several projects, including in energy, telecommunications, forestry and other sectors, Mikhail Myasnikovich added.

“The strategy on EBRD-Belarus cooperation signed in 2009 and finalized in 2010 will promote further rapprochement and joint projects,” Mikhail Myasnikovich added. The Premier assured the European official that the new Government of Belarus would continue cooperation with the EBRD.

As regards the projects that are currently underway in Belarus with the EBRD support, the Government will do its best to create favorable conditions for their implementation. “I think the balance of interests will be maintained,” Mikhail Myasnikovich said.

In turn, Paul-Henri Forestier, EBRD Regional Director for the Caucasus, Moldova and Belarus stressed that the European Bank for Reconstruction and Development notes progress in the cooperation with Belarus.

According to Paul-Henri Forestier, the EBRD Board of Directors adopted a new strategy of cooperation with Belarus in 2009. “It allows us cooperating with Belarus’ state sector, though there are some restrictions,” he said. He added that the adoption of the strategy helped achieve certain progress in the EBRD-Belarus relations. At the same time, Paul-Henri Forestier thinks that “the level of investments leaves a lot to be desired”.

Paul-Henri Forestier admitted Belarus’ active role in the creation of the EBRD. “I would like to thank you for it. You played a crucial role in the creation of the EBRD Office in Belarus in 1993-1994,” Paul-Henri Forestier said addressing Mikhail Myasnikovich.

Belarus joined the agreement establishing the EBRD in 1992, thus becoming one of its members. The country has 4,000 EBRD shares worth EUR 40 million, or 0.2% of the bank’s authorized capital. Since 1992 Belarus has implemented a number of projects worth USD 175.1 million, such as opening a fruit and vegetable wholesale marketplace in Minsk, revamping Brest-Minsk-Russian border motorway, modernizing a CHP-plant in Orsha, developing Belarus’ telecommunications system and promoting small and medium-sized businesses.

Today’s EBRD-Belarus cooperation goes in line with the strategy for 2010-2012, which envisages cooperation in the promotion of small and medium-sized businesses, energy efficiency, trade liberalization, commercialization of the municipal infrastructure as well as the improvement of environmental protection standards and energy efficiency. In line with the strategy, the bank will operate mostly in the private sector.

Founded in 1991, the European Bank for Reconstruction and Development supports the creation of a new private sector. Today EBRD investment instruments are used to build market economy in 30 countries – from Central Europe to Central Asia. The bank’s stock capital makes up EUR 20 biilion.