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European Bank for Reconstruction and Development in Belarus. Valdas Vitkauskas Head of EBRD Office in Belarus 22 October 2009 Minsk. EBRD in 2009. € billion. Equity base of €20bn Invested over €44.4bn in more than 2,650 projects since 1991
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European Bank for Reconstruction and Development in Belarus Valdas Vitkauskas Head of EBRD Office in Belarus 22 October 2009 Minsk
EBRD in 2009 € billion • Equity base of €20bn • Invested over €44.4bn in more than 2,650 projects since 1991 • Private sector > 77% of portfolio. Debt 79%, Equity 21% of portfolio • 2009: € 6 bn invested as at September ’09; targeted financing € 8bn Annual business volume (ABV) Net cumulative business volume
EBRD Financing in Belarus • Cumulative financing about USD 460 mln in 30 projects as of October ‘09 • New Strategy is under discussions • 2009 Signings: • MSME Framework - USD 50 mln • MTB loan under MSME Framework - USD 10 mln • BGPB loan - USD 30 mln • BGPB TFP line – USD 10 mln • Pinskdrev loan - USD 15 mln • BBSB equity replenishment – USD 0.8 mln
EBRD Strategy for Belarus: highlights 3-year strategy for Belarus approved end 2006; focused on private sector only • portfolio management of existing investments, support to medium and small businesses through Lines of Credit with privately-owned banks • direct investments in private companies • expansion of the trade facilitation programme • providing credit lines and equity investments in private banks
New strategy timeline • Board consultation visit June 2009 • Full strategy draft September 2009 • Board workshop September 2009 Draft Strategy public consultations November 2009 www.ebrd.com/about/strategy/country/belarus/comment.htm Board voting December 2009
New Strategy: highlights Scenario approach replaced; political and economic benchmarks remain to phase EBRD activities in following areas: • Financing for MEI projects, particularly alongside regional initiatives such as NDEP • Financing for ENERGY EFFICIENCY via dedicated credit lines with local intermediaries; via private operators to support sustainable energy sources • PRE-PRIVATISATION and PRIVATISATION financing in line with WB and IMF programs • Continued focus on MSME support through local banks, also expanding credit lines to commercially oriented state-owned banks to reach regions and to support future privatisation • Step-by-step expanding TFP beneficiaries to state-owned clients of private banks and to selected state-owned banks with credible privatization prospects
EBRD Tools • LOANS: up from USD 2 mln, to finance about 1/3 of total project value, along with reputable investor • EQUITY INVESTMENT: up from USD 1.5 mln, not more than 35% of voting rights, understanding on exit, shareholders’ agreement • CO-FINANCING with local banks • GUARANTEES • TFP LINES (currently with Priorbank, BGPB, MTB, Belrosbank with total limits of USD 58 mln) • MSME CREDIT LINES (currently with 6 banks, 16 865 loans for USD 224 mln disbursed since 2002)
THANK YOU! Our contacts: Minsk, Belarus Engelsa str, 34A, bld. 2 tel. +37517 210 4787 fax +37517 328 3522 www.ebrd.com www.ebrd.com/ru