October 18, Minsk / BelTA/. The European Bank for reconstruction and development (EBRD) will provide Belarus with a loan of 20 million euro to assist “Minskenergo” in the development of the electric power infrastructure of the FEZ “Minsk”, BelTA reports with reference to the Bank's materials.
The project is aimed at supporting the construction of a low-voltage 110/10 kW substation in Fanipol, which territory is included into the FEZ "Minsk" boundaries. Its implementation will help to meet the growing needs for expanding the capacity of the electric power infrastructure serving the resident companies of the FEZ "Minsk" in Fanipol, that will ensure the further development and growth of the economic zone.
The Bank's Board of Directors will consider the project on December 11, 2019.
FEZ "Minsk" was founded in 1998. During its activity, it has become a leading industrial center and attracted more than $2 billion investments. The total area of the territory is close to 2.8 thousand hectares. It includes 23 sites in Minsk and Minsk region. There are about 120 resident companies registered here. The main industrial sectors in which FEZ enterprises operate are mechanical engineering and metalworking, automotive industry, woodworking industry, electronics and production of building materials. Investors from 20 countries have invested in business in the FEZ “Minsk”. The products of resident companies are supplied to 89 countries.
The European Bank for reconstruction and development is a multilateral Bank that promotes private sector development and entrepreneurship in 38 economies on three continents. The Bank's shareholders are 69 countries, as well as the EU and EIB. The EBRD is the largest institutional investor in the Belarusian economy. Since the beginning of its activity in Belarus in 1992, the EBRD has invested almost 2.5 billion euro in 115 projects in various sectors of the country's economy.