Belarusian side has proposed the European Bank for Reconstruction and Development (EBRD) to increase its capital in the Belarusian banking system, BelTA learnt from the information department of the National Bank of Belarus.

Chairman of the Board of the National Bank of the Republic of Belarus (NBRB) Piotr Prokopovich has met with Varel Freeman, EBRD First Vice President, and Snezhana Stoilkovich, Director of the Central and Eastern Europe Department of the International Finance Corporation (IFC), to discuss the prospects of the bilateral cooperation.

“EBRD has been proposed to discuss the possibilities to increase its capital in the Belarusian banking system.  Specialists of the World Bank Group will render assistance in further reformation and improvement of the investment attractiveness of the Belarusian economy,” specialists of the National Bank of Belarus noted. 

The European Bank for Reconstruction and Development and the International Finance Corporation took part in setting up of the Belarusian Small Business Bank. The state registration of the Belarusian Small Business Bank and the license issuance was adopted by the NBRB Board of Directors in line with NBRB resolution No 119 of August 28, 2008.

International finance organizations’ activity dealing with the expansion of the access to credit resources for small and middle-sized business meets the priorities of the Belarusian economic policy in line with the projected increase in the share of small and middle-sized business in the total sale proceeds up to 30% by 2010. EBRD representatives were proposed to expand their participation in development of small and middle-sized business in small towns and rural areas.

During the meeting, the sides also touched upon the issues concerning the impact of the world finance crises on Belarus, the participation of the International Finance Corporation in privatization of one of the Belarusian banks, other issues.

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