Belinvestbank joins the BelSEFF programme

The BelSEFF team is pleased to announce that another reputable Belarusian financial institution joined the facility. The relevant agreement was signed between the European Bank for Reconstruction and Development and OJSC "Belinvestbank" on 27 September 2016. The credit line in the amount of EUR 8 mil is a part of Belinvestbank privatisation plan agreed between the government of Belarus and the EBRD in May 2015.

The BelSEFF credit line is intended to finance energy efficiency and renewable energy projects, implemented by Belinvestbank clients. Moreover, the BelSEFF credit line includes technical assistance f BelSEFF Consultant, which is funded through a grant from the Ministry of Finance of the Czech Republic.

Along with BelSEFF the bank signed a credit line agreement with EBRD regarding their Women in business initiative in amount of EUR 2 mil, which aims at development of female entrepreneurship.

EBRD notes that these credit lines "will help to improve Belinvestbank's commercial operation and broaden its client base in line with best international practices".

Francis Delaey, the EBRD's Head of Office in Belarus, said: "We are satisfied that our planned cooperation with Belinvestbank is progressing well along the projected path. The credit lines extended by the EBRD today will promote projects in sustainable energy in the country and also help female entrepreneurs launch and develop their small businesses, which is particularly important for the sustainable growth of the domestic economy."

In total, 57 projects worth 26,87 million US dollars have already been implemented under the BelSEFF facility around the country. These projects have jointly resulted in an annual reduction of CO2 emissions of over 80,000 tons or the total annual emissions of over 33,600 cars.

Since 2006, the EBRD has provided over EUR 86 million in financing for sustainable energy projects in Belarus.

Photos from the event:

Source: EBRD

From left: Maksim Ermolovich (First Deputy Minister of Finance), Gennady Sysoev (Chairman of the Board of OJSC "Belinvestbank"), Francis Delaey (Head of the EBRD Office in Belarus), Sergey Kalechits (Deputy Chairman of the Board of National Bank of the Republic of Belarus), Jahan Shamsiev (Banker of Financial Institutions Department of the EBRD)

Source: Infobank

From left: Sergey Kalechits (Deputy Chairman of the Board of National Bank of the Republic of Belarus), Gennady Sysoev (Chairman of the Board of OJSC "Belinvestbank"), Francis Delaey (Head of the EBRD Office in Belarus), Francis Daley (Head of the EBRD Office in Belarus)