Belarus to Subscribe for €18 Million of EBRD Shares

10.06.2011 09:41
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Belarusian authorities are going to make an additional subscription to 1.8 thousand shares with a nominal value of €10 thousand each for a total of €18 million, which constitute the guarantee of the capital of the European Bank for Reconstruction and Development (EBRD) and shall be payable on demand. The resolution № 719 of the Council of Ministers of Belarus of June 6, 2011 approves this decision.

The government is also entrusted to take note of the EBRD decision № 126 of May 14, 2010 on the allocation 202 shares to Belarus with a nominal value of €10 thousand each for a total of €2.02 million paid by the Bank due to the profit and unrelated general reserves.

According to Telegraf, the Board of Directors of the European Bank for Reconstruction and Development has corrected the country strategy for Belarus adopted in December 2009. «The bank will not consider investments in government projects in energy and / or transport infrastructure. It also will not consider the direct participation of the public sector in the field of sustainable energy,» said in the Bank statement.