Belarus seeks to attract €14.11 million from the European Bank for Reconstruction and Development (EBRD) to build an electric substation, Cherkasy, to supply electricity to the free economic zone Minsk. The corresponding draft loan agreement between Belarus and the EBRD has been approved as a basis for negotiations by the Council of Ministers Decree No.336 of 11 June 2020, which was officially published on the National Legal Internet Portal on 15 June, BelTA has learned.
It is assumed that the EBRD loan to finance the investment project will be raised in 2020-2022 for 15 years.
The Energy Ministry is authorized to negotiate the draft agreement. The ministry is allowed to make changes of non-principle nature if necessary. The Energy Ministry will also sign the loan agreement when an agreement is reached within the approved project.
