EDB and the Belarusian Railway sign a memorandum of cooperation
Minsk, 16 May 2014. Eurasian Development Bank (EDB) and the Belarusian Railway signed today a memorandum of cooperation in Minsk. The document was signed by Gennady Zhuzhlev, Deputy Chairman of the Management Board at EDB, and Vladimir Morozov, Head of the Belarusian Railway.
In accordance with the memorandum, the main areas of cooperation between EDB and the Belarusian Railway will be the advancement and upgrade of railroad infrastructure in Belarus, the modernisation and upgrade of rolling stock, and the enhancement of mutual trade in railway services between the EDB member states.
The memorandum provides for an exchange of information about projects that are in line with EDB’s mission and strategy, and mutual consultations on optimal schemes to finance investment activities of the Belarusian Railway.
Partnership between EDB and the Belarusian Railway has significant prospects and will contribute to the development of Belarus’ transport potential and its foreign trade.
Additional Information
The Belarusian Railway is a state-owned enterprise accountable to the Ministry of Transport and Communications of the Republic of Belarus. It is a state-of-the-art, well-developed transport system, with over 5,500 km of railroads in operation. The Belarusian Railway accounts for almost 70% of freight traffic among all types of transport in the country and for about 40% of passenger traffic. Its share in the country’s GDP and tax revenues is 2% and 2.1% respectively. Being the «western gates» of the Customs Union of Belarus, Russia and Kazakhstan, the Belarusian Railway has a developed transport and logistical infrastructure and a beneficial geopolitical location on the junction of 1435 mm and 1520 mm gauges. Read more at https://www.rw.by/
Eurasian Development Bank is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital exceeds US $1.5 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan. Read more at https://www.eabr.org.