The EDB to extend US $400 million to Belaruskali to finance its working capital and investment programme

15 January 2020

Minsk, 14 January 2020. The Eurasian Development Bank (EDB) and Belaruskali signed two loan agreements to finance the company’s working capital and investment programme for a total of US $400 million.

This amount includes US $100 million provided earlier under the loan agreement signed in May 2019.

The funds will be used to enhance potash fertiliser production in Belarus, including the commercial development of the Petrikov potash deposit with the construction and commissioning in 2021 of a mining and processing plant in Gomel Region with an annual capacity of not less than 1.5 million tonnes of potassium chloride.

The project is in line with the EDB’s mission and strategic objectives. It is being run in the chemical sector, which is one of the Bank’s strategic investment priorities. The project is also expected to foster sustainable economic growth in Belarus. The investment programme to construct the Petrikov mining and processing plant will create over 1,700 jobs.

Additional Information:

The Eurasian Development Bank (EDB) 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. The EDB's charter capital totals US $7 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. 

Belaruskali is one of the world’s largest producers and exporters of potash fertilisers, accounting for a fifth of their global output according to the International Fertiliser Association. Belaruskali’s products meet the most stringent requirements and have received important international awards. This makes the company competitive on a global scale and ensures exports to more than 120 countries. Belaruskali has been expanding production for years, retaining its traditional markets and approaching new ones, and developing new products. Boasting rich natural reserves and a high production capacity of its personnel, the company has been successfully coping with these challenges and improving its performance by introducing new machinery and equipment and streamlining processes and technological approaches. These complicated and multi-faceted activities are being run based on the blueprint for the sustainable development of the potash sector in Belarus. The Republic of Belarus owns 100% of shares in Belaruskali.

The EDB Media Centre:

Alexander Savelyev +7 (985) 765 23 59 (Moscow)

Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)

Sergey Gorbachev +7 (916) 727 22 00 (Moscow)

pressa@eabr.org

www.eabr.org

Back to the list

We use cookies to take account of your preferences and improve your experience on our website. We assume that by continuing to use our website you agree with our use of cookies. You can always configure your Internet browser to refuse to have cookies saved by our website.

Yes More