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Belarus refuses to return part of the loans provided by the European Bank

President of Belarus Alexander Lukashenko said that his country would not return part of the loans provided by the European Bank for Reconstruction and Development. According to the website wnp.pl, he explains this by the suspension of cooperation between the EBRD and the Belarusian authorities.

The President of Belarus said that the EBRD loans are intended to finance investments in housing and communal services. However, now, according to him, the bank has frozen loans, so Belarus itself must finance investments. This means that we cannot finance EBRD loans,” Lukashenka said. He said that along with the unfreezing of loans, their repayment will also be resumed.

However, this may not be possible in practice. After the Russian invasion, partly from Belarus, the EBRD management decided to stop supporting the Russian and Belarusian authorities. The EBRD also informs that it is possible to suspend financing of already implemented projects.

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