Centre for Developing Markets | Центр поддержки развивающихся рынков | Centrum pro rozvojové trhy

Minsk Business Meetings 2017 and new trends in the development of IIB’s relations with the CIS countries

During this year, the International Investment Bank (IIB) began to actively develop its partnerships in the area of trade finance with financial institutions form the countries of the Commonwealth of Independent States (CIS). The Bank cooperates in this area with the largest banks from the Russian Federation, the Republic of Belarus and Armenia, and also develop its activities with financial institutions from other CIS countries as its potential counterparties.

The IIB delegation presented the Bank’s Trade Finance Support Program (TFSP), which provides options how to support its member states economies in the area of export-import operations made jointly with counterparties from CIS. The presentation was made during the III International Financial and Banking Forum of the CIS member states Minsk Business Meetings, which was held in Minsk, the Republic of Belarus, on October 26-27, 2017. The head of the Trade Finance and Documentary Transactions Division, Maria Minaeva, presented the IIB as a multilateral development bank (MDB), which is actively offering a wide range of products in the area of trade finance to the banking institutions in the CIS.

The unique status of IIB as an international financial institution (IFI) turned out to be an especially interesting topic for the attendees. This comes as a consequence of the fact that the shareholders of the Bank are countries located in remote geographical regions and the particular specifications of the TFSP, which is not typical for the majority of IFIs. M. Minaeva also awarded JSC BELARUSBANK as the “Most active issuing Bank 2016” among Belarusian participants of the TFSP.

The IIB’s delegation conducted a number of meetings with representatives of leading Russian, Belarussian and Kazakh banks, discussing a wide range of prospective projects in Trade Financing between the IIB member states of IIB and non-member countries.

The Bank offered its trade financing services for the first time in 2014. Currently, TFSP includes such products as reimbursement undertakings, trade related loans (TRL) and standby letters of credit. Banks that fit the criteria of the IIB could be issuing and supporting parties under the TFSP.

Source: IIB

EIB open to finance infrastructure and private sector projects in Belarus

The European Investment Bank (EIB) and the Republic of Belarus today endorsed the financing by EIB of key infrastructure projects in Belarus, including the upgrade of some connectivity projects between the country and its EU neighbours. The EIB activities in Belarus were discussed by the EU bank’s Vice-President and Member of the Management Committee, Alexander Stubb, and the Belarus Prime Minister, Andrei Kobyakov, during the Belarus-EU Economic Forum in Luxembourg. The Forum was also attended by European Commissioner Johannes Hahn.

The Infrastructure projects that the EIB is willing to support include the upgrade of international transport corridors, municipal and environmental infrastructure, including energy water and wastewater, and climate action projects. The EIB is already involved in appraising the upgrade of a highway from Minsk to the Lithuanian border in parallel financing with the World Bank. This is an  example of EIB’s role in supporting connectivity between the EU and Eastern partnership countries in order to foster trade, economic growth, mobility, as well as – in this case – road safety which will have a beneficial impact on the daily life of ordinary citizen.  Other areas of interest include support for the private sector and SMEs, notably through local banks and local industrial groups.

EIB Vice-President Alexander Stubb said: “We believe that by combining forces, the EU, the EIB and other International Financing Institutions active in Belarus can make a difference and provide a boost for economic development in this important country. Today’s Economic Forum and the meetings with the Belarusian Prime Minister represent a further step in the EIB commitment to support strategic investment projects in Belarus, after the Framework Agreement on cooperation signed in May this year”.

Belarus Prime Minister, Andrei Kobyakov, commented: “This year we have signed the Framework Agreement, which allows the European Investment Bank to carry out activities in the Republic of Belarus and laid down the basis for our partnership. This is a landmark event in strengthening cooperation between Belarus and the Bank as well as the European Union in general. We have always expressed our interest in working with the Bank. We consider the EIB as an important and serious partner with significant investment resources, best practices and knowledge”.

The Eastern Partnership, Belarus and the EIB

EIB has gained a more than ten-year experience in the Eastern Partnership region, which include six EU neighbouring countries. To date, close to EUR 8bn of loans was provided to Eastern Partnership countries for infrastructure, local private sector development and climate action projects. Belarus has been since November 2016 on the list of countries eligible for EIB financing under its external lending mandate. A Framework Agreement on Cooperation between EIB and Belarus was signed in May 2017 and ratified by the Parliament of the Republic of Belarus in July, opening the way for an increased EU and EIB engagement with Belarus.

Source: EIB

Country: Belarus | Czech Infrastructure Association
Centre for Developing Markets | Центр поддержки развивающихся рынков | Centrum pro rozvojové trhy
Date Project Title Country Donor Category Business Sector Budget Deadline
20.11.2017 Evaluation of Transformational Change in the Climate Investment Funds: Phase 2 N/A WB Services Climate Change N/A 06.12.2017
17.11.2017 Consulting Services for EE in Power Generation Turkey WB Services Power & Energy N/A 11.12.2017
17.11.2017 PSEEF: Kremenchuk Public Buildings EE Ukraine EBRD Services, Works Infrastructure 9 000 000 EUR N/A
17.11.2017 Ukraine Public Sector Energy Efficiency Framework Ukraine EBRD Services, Works Power & Energy 125 000 000 EUR N/A
17.11.2017 Serbia National Disaster Risk Management Plan (NDRMP): Flood Risk Mapping Serbia WB Services Climate Change N/A 04.12.2017
17.11.2017 Belgrade Water – Support to the Project Implementation Unit (“PIU”) for tranche 2 Serbia EBRD Services Water Supply & Sanitation 400 000 EUR 11.12.2017
14.11.2017 Audit of the financial statements of Community Development and Investment Agency (ARIS) indicated projects for the period FY 17,18,19. Kyrgyz Republic WB Services Finance N/A 23.11.2017
13.11.2017 Kyrgyz Republic – Bishkek Public Transport Project Extension – Public Transport Development Strategy Kyrgyz Republic EBRD Services Urban Development 420 000 EUR 12.12.2017
13.11.2017 Moldova Road Sector Program Moldova EBRD Works Highways N/A 12.12.2017
13.11.2017 Reconstruction Of Sewage Treatment Plants – Biological Treatment Unit In Ivanovo Russian Federation WB Works Water Supply & Sanitation N/A N/A