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European Bank for Reconstruction and Development in Belarus

European Bank for Reconstruction and Development in Belarus. Valdas Vitkauskas Head of EBRD Office in Belarus 22 October 2009 Minsk. EBRD in 2009. € billion. Equity base of €20bn Invested over €44.4bn in more than 2,650 projects since 1991

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European Bank for Reconstruction and Development in Belarus

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  1. European Bank for Reconstruction and Development in Belarus Valdas Vitkauskas Head of EBRD Office in Belarus 22 October 2009 Minsk

  2. EBRD in 2009 € billion • Equity base of €20bn • Invested over €44.4bn in more than 2,650 projects since 1991 • Private sector > 77% of portfolio. Debt 79%, Equity 21% of portfolio • 2009: € 6 bn invested as at September ’09; targeted financing € 8bn Annual business volume (ABV) Net cumulative business volume

  3. EBRD Financing in Belarus • Cumulative financing about USD 460 mln in 30 projects as of October ‘09 • New Strategy is under discussions • 2009 Signings: • MSME Framework - USD 50 mln • MTB loan under MSME Framework - USD 10 mln • BGPB loan - USD 30 mln • BGPB TFP line – USD 10 mln • Pinskdrev loan - USD 15 mln • BBSB equity replenishment – USD 0.8 mln

  4. EBRD Strategy for Belarus: highlights 3-year strategy for Belarus approved end 2006; focused on private sector only • portfolio management of existing investments, support to medium and small businesses through Lines of Credit with privately-owned banks • direct investments in private companies • expansion of the trade facilitation programme • providing credit lines and equity investments in private banks

  5. New strategy timeline • Board consultation visit June 2009 • Full strategy draft September 2009 • Board workshop September 2009 Draft Strategy public consultations November 2009 www.ebrd.com/about/strategy/country/belarus/comment.htm Board voting December 2009

  6. New Strategy: highlights Scenario approach replaced; political and economic benchmarks remain to phase EBRD activities in following areas: • Financing for MEI projects, particularly alongside regional initiatives such as NDEP • Financing for ENERGY EFFICIENCY via dedicated credit lines with local intermediaries; via private operators to support sustainable energy sources • PRE-PRIVATISATION and PRIVATISATION financing in line with WB and IMF programs • Continued focus on MSME support through local banks, also expanding credit lines to commercially oriented state-owned banks to reach regions and to support future privatisation • Step-by-step expanding TFP beneficiaries to state-owned clients of private banks and to selected state-owned banks with credible privatization prospects

  7. EBRD Tools • LOANS: up from USD 2 mln, to finance about 1/3 of total project value, along with reputable investor • EQUITY INVESTMENT: up from USD 1.5 mln, not more than 35% of voting rights, understanding on exit, shareholders’ agreement • CO-FINANCING with local banks • GUARANTEES • TFP LINES (currently with Priorbank, BGPB, MTB, Belrosbank with total limits of USD 58 mln) • MSME CREDIT LINES (currently with 6 banks, 16 865 loans for USD 224 mln disbursed since 2002)

  8. THANK YOU! Our contacts: Minsk, Belarus Engelsa str, 34A, bld. 2 tel. +37517 210 4787 fax +37517 328 3522 www.ebrd.com www.ebrd.com/ru

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