Projects in Belarus

Project Summary Documents

Project Summary Documents (PSDs) are disclosed for each project prior to Board consideration. They contain project descriptions, financial details, client information, environmental issues, tender guidelines, and contact details. PSDs for private sector projects are disclosed at least 30 days prior to Board consideration and for state sector projects, at least 60 days.

Project Summary Documents 

Signed projects

Board approval is the final stage in the project approval process. After Board approval, the EBRD and the client sign the deal and it becomes legally binding. Signed project lists reflect year-end data.

Signed projects  (0.1Mb) 

Case studies

Olivaria

The project involved financing the modernization and capacity expansion of the existing Olivaria brewery, a privately – owned company in Minsk, Belarus. The brand Olivaria has been around for 140 years, is well known in Belarus and has a high potential to grow further.

The EBRD has been a major shareholder in Olivaria since 2005. Financing is done via the provision of a loan and equity investment. The amounts of the signed in 2005 agreements are EUR 3.1 million loan and EUR 3.5 million equity. Total EBRD finance amounts to EUR 14.8 million. Since late 2006 EBRD’s shares in Olivaria has amounted to 21 per cent after EBRD sold part of its shares to Baltic Beverage Holding (BBH).

Belarus SME/MSE Framework

In December 2004, the EBRD signed an SME/MSE Framework to the amount of USD 25.0 million which consisted of senior loans to commercial banks in Belarus. Under this framework, loans were extended directly to the participating local banks which on-lent these funds to private micro, small and medium-sized enterprises. Two banks participated in the framework: Belgazprombank and Priorbank.

Framework II, an extension of the framework for additional USD 25.0 million, was approved by EBRD Board of Directors in January 2007 aiming to support the development of the private sector in Belarus and to allow the continued provision of credit lines to new private banks.

In February 2007, Minsk Transit Bank became the third bank-participant of the programme with a USD 4.0 million credit line for micro lending and for on-lending to small and medium enterprises.