Belarus

Belarus

Member since

The country strategy of the Eurasian Development Bank

Objective 1

Developing basic infrastructure

The EDB’s strategic goal to 2026will be to develop an efficient transport and logistics system in order to optimise freight transport in Eurasia. Other relevant objectives include the promotion of e-transport and related infrastructure, and support for the development of social infrastructure, housing and utilities.

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Priority 1.1

Reconstructing and developing transport routes and infrastructure

During the strategy period, the EDB will continue to develop transport infrastructure by implementing KIMPs, including road and rail reconstruction and development projects — those to modernise international transport corridors II and IX, the M-1 highway, One Belt One Road sections (China– Western Europe) — and other highways and interchanges. These projects will help to boost transport capacity and enhance integration with the transport systems of neighbouring countries. In addition, using its experience and expertise in PPP projects, the EDB will continue to provide both senior- and junior-debt (quasi-equity) instruments.

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Priority 1.2

Supporting the development of logistics and warehousing infrastructure

The EDB plans to develop end-to-end commodity distribution by implementing KIMPs that use innovative technology and services to build or upgrade transport and logistics hubs and wholesale distribution centres. The Bank, in cooperation with the EEC, will carry out a comprehensive analysis of trade and existing infrastructure, drawing up a concept for a Eurasian commodity distribution network. This will incorporate transport and logistics corridors and wholesale distribution centres that the member states, including Belarus, require. The work will inform the implementation of projects that could be funded by the EDB. Such projects are expected to boost freight traffic and speed up freight handling, which will reduce costs for all users of the transport and logistics system and promote transit potential and the export of transport services.

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Priority 1.3

Promoting e-transport and related infrastructure

The EDB plans to finance projects to renew railway rolling stock and urban e-transport and support manufacturing and innovation in e-transport and related infrastructure. These projects should help the environment by reducing air pollution.

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Priority 1.4

Supporting the development of social infrastructure, housing and utilities

The EDB plans to finance projects to build and modernise social infrastructure and utilities, including water and wastewater projects.

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Objective 2

Facilitating the sustainable development of Belarus’s energy system

One of the The EDB’s objective to 2026 is to build and modernise energy infrastructure and contribute to the country’s transition to a green agenda.

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Priority 2.1

Creating and modernising energy infrastructure

The EDB plans to finance new energy infrastructure, network rehabilitation and renovation, and energy efficiency projects.

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Priority 2.2

Transition to a green agenda

During the strategy period, the EDB plans to finance renewable energy projects that will help to diversify the energy mix, enhance energy security and improve the environment

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Objective 3

Modernising and developing industry

One of the EDB’s objectives until 2026 is to promote the modernisation and competitiveness of Belarusian enterprises.

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Priority 3.1

Modernising industry

During the strategy period, the Bank will focus on projects that improve industrial efficiency in Belarus. It will prioritise manufacturing projects that contribute most to GDP, employment and exports to EAEU countries.

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Priority 3.2

Promoting the establishment and development of new industries

The EDB will finance high-tech and high-value-added production projects and provide project planning assistance through its Technical Assistance Fund (TAF). The focus will be on high-tech sub-sectors demonstrating the greatest potential.

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Objective 4

Developing export potential and business support

Another objective of the EDB until 2026 is to promote trade, diversify exports and develop SMEs.

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Priority 4.1

Promoting cooperation and trade ties, with EAEU countries in the first place

In the strategy period, the EDB will provide trade and export finance to businesses operating in EAEU markets. The Bank will focus on supporting companies affected by sanctions. The EDB may execute export finance projects in cooperation with the DBRB.

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Priority 4.2

Supporting small and medium-sized enterprises

The EDB will support SMEs by lending to financial institutions for on-lending to SMEs.

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Objective 5

Digital transformation

In the strategy period, the Fund for Digital Initiatives will support Belarus’s digital agenda to intensify integration with Eurasian countries and foster digital development. The EDB’s digital projects will factor in Sustainable Development Goals and promote technology companies and promising projects in Eurasia. Digital transformation is a related and overarching objective, which will help the EDB to implement its priorities in Belarus in 2022–2026.

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Priority 5.1

Supporting and participating in the development of digital solutions designed to strengthen integration ties and promote interoperability among the countries

The EDB will focus on promoting digital interoperability and greater integration between the countries, and on synergising the digital agendas of the countries in which it operates.

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Priority 5.2

Supporting governmental digital projects

Over this strategic period, the EDB will support public digital projects that promote integration between Eurasian countries and the digital transformation of the Kyrgyz Republic.

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Priority 5.3

Supporting digital projects in the corporate sector

The EDB will encourage the development of technology companies and support promising corporate digital projects.

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EDB Investment Portfolio

As of February 2024

44 projects in eight sectors:
3
Energy
24
Financial sector
1
Agriculture
2
Other infrastructure
7
Machinery and engineering
1
Metallurgy
2
Other sectors
4
Chemical sector

16 April 2024
The petrochemical industry is a high-tech sector with a significant multiplier effect. It produces four out of every five items commonly used by people today. Currently, the industry is undergoing global structural changes, presenting significant opportunities for Eurasian economies. The Bank’s latest report titled Eurasian Petrochemical Industry: Opportunities for Deeper Processing outlines blocks of priority measures to unlock available potential. These include a clustering policy, additional focus on low-tonnage petrochemical production, and the implementation of circular production mechanisms. Unleashing the Eurasian region’s potential will make the petrochemical industry an effective way to address “path dependence” by enhancing process stages, promoting technological advancements and securing a foothold in the global division of labour.
12 April 2024
The Eurasian Development Bank (EDB) has released its latest Macroeconomic Review for the Bank’s six member states.
20 March 2024
The Eurasian Development Bank (EDB) has released a report titled Infrastructure in Eurasia: Short- Term and Medium-Term Trends. Eurasian countries  have incorporated the United Nations Sustainable Development Goals (SDGs) into their economic policies. However, their achievement is impeded by the significant deficit and high wear and tear of infrastructure. Transportation, logistics, energy, telecommunications, water supply and wastewater infrastructure suffers from inadequate investment. Rapid urbanisation, the active adoption of new technologies and climate change are driving new requirements for infrastructural development. The directions of trade flows are shifting, leading to the creation of new transportation corridors and energy links.
16 February 2024
The Eurasian Development Bank (EDB) has released the latest Macroeconomic Review for its six member states. This regular publication provides a roundup of the macroeconomic situation and projects near-term developments in the member countries. The review also contains detailed statistics on key macroeconomic indicators.
16 November 2023
In the summer of 2023, Central Asia was faced once again with water shortages and the significant impact these have on agriculture. The sector relies on irrigation, consuming up to 80% of available water, and has a poor track record with regard to the efficient use of water resources. The irrigation infrastructure is over 50 years old. More than half of all irrigated land has become salinised and 40% of water is lost through irrigation canals. A new EDB study entitled “Efficient Irrigation and Water Conservation in Central Asia” outlines ten practical steps for preserving irrigated land potential and promoting water conservation. The list includes four recommendations for adoption at the regional level and six at the national level. The measures are designed to save enough water each year to support sustainable development. Implementing the measures will require collaboration between governments, farmers and multilateral development institutions. The need for urgent action is intensified by the anticipated reduction in the flow of the Amu Darya River
11 July 2023

The Eurasian Development Bank (EDB) has released the latest issue of the Macroeconomic Review for its six member states. This regular publication provides a roundup of the macroeconomic situation and projects near-term developments in the member countries. The review also contains detailed statistics on key macroeconomic indicators.

01 June 2023
The EDB has released its Macroeconomic Outlook for the Bank’s six member states. Bank analysts anticipate that the region’s economies successful adaptation to the new environment will support their growth this year. Positive growth rates are projected for all countries in the region: Armenia expected to grow by 7.5%, Belarus by 2.2%, Kazakhstan by 4.3%, Kyrgyzstan by 4.2%, Russia by 1%, and Tajikistan by 7.9%.

11 May 2023
A new report by the Eurasian Development Bank (EDB, Bank) examines the status and opportunities for low-carbon development in Eurasia. Energy, transport, industry, and the urban environment are the four pain points that need to be addressed in the first place. Coordinating countries in their low-carbon development efforts will help to avoid regulatory costs and internal trade barriers, enhance regional cooperation in line with green economy principles, and improve the competitiveness of regional producers. International development institutions play a crucial role in implementing the green agenda in lower-middle-income countries
13 April 2023
The EDB’s new analytical report, Food Security and Agro-Industrial Potential of the Eurasian Region, proves that agriculture is a key element of the long-term economic specialisation of the Eurasian Region. Calculations demonstrate that the region not only guarantees its own food security, but by 2035, it will also be able to fully provide food for 600 million people.  To realize the region’s globally unique potential it is necessary to accelerate the development of the technological base of the agro-industrial complex, improve agro-logistics and storage systems, support major producers, stimulate cooperation among small farms, and eliminate barriers and restrictions on mutual trade within the EAEU.
13 March 2023
The Eurasian Development Bank (EDB) presented the latest issue of the Macroeconomic Review for its six member states. The Macroeconomic Review is a regular publication by the EDB, which provides a snapshot of the macroeconomic situation and projects short-term developments in its member countries. The review also contains statistical information on key macroeconomic indicators

Minsk Representative Office

Address:
70 Myasnikov St., office 310, Minsk, 220030, Republic of Belarus

Outlook for the key macroeconomic indicators as of December 2023

Indicator
2024
2025
Drivers
GDP growth
2024
2.0%
2025
0.8%
Drivers
Supporting domestic demand with budgetary stimulus and wage growth. Slowdown in exports. Return to a balanced growth trajectory.
Year-end inflation
2024
8.0%
2025
7.4%
Drivers
Inflation will remain above the target due to the time-delayed reaction of prices to the growth in demand and weakening of the Belarusian ruble under the conditions of administrative regulation.
Refinancing rate, year’s average
2024
9.5%
2025
9.8%
Drivers
Sustaining moderately tight monetary conditions to control inflation
BYN/USD exchange rate, year’s average
2024
3.35
2025
3.37
Drivers
Slight weakening amid outperforming import growth rates

Publications