EBRD bank supports energy savings in Belarus
MOSCOW: The EBRD bank today launched a facility to promote sustainable energy financing in Belarus, a country with a highly industrialised and energy intensive economy inherited from the breakup of the Soviet Union. The facility will help Belarus to reduce its energy consumption and provide environmental benefits by reducing carbon emissions and pollution. The first loan under the newly created USD 50 million EBRD programme is a five-year loan of USD 4 million to Minsk Transit Bank (MTBank). The loan will allow this private bank to offer its industry and small business clients long-term funding to promote targeted investments in energy efficiency and renewable energy. Financing sustainable energy is one of the EBRD’s core priorities spelled out in the Bank’s Belarus country strategy.