NIB and Belarus sign framework agreement
NIB and the Republic of Belarus have signed a framework agreement establishing the Bank’s legal status permitting lending operations in Belarus with focus on environmental projects.
“In Belarus, NIB will finance environmental improvements primarily in wastewater treatment, because Belarus is part of the Baltic Sea catchment area. Our second priority is to help cut airborne pollutants and reduce greenhouse emissions. The quality of the environment in Belarus significantly affects the Bank’s member countries in the Baltic Sea region,” says NIB President and CEO Johnny Åkerholm.
The basins of three major riversthe Daugava, the Nemunas and the Vistulaall drain into the Baltic Sea and cover a large part of Belarus’s territory. The Baltic Marine Environment Protection Commission, HELCOM, has identified the cities of Grodno, Vitebsk and Brest, which are all located on these watercourses or their tributaries as environmental hotspots demanding urgent action.
As a kick-off of its lending in Belarus, NIB is considering an environmental loan programme for the Republic of Belarus allocated to the country’s Ministry of Housing and Communal Services for improving wastewater treatment in selected hotspot cities.
The Nordic Investment Bank is the common international financial institution of the eight Nordic and Baltic countries. NIB provides long-term financing to the energy, environmental, transport, logistics and communications, and innovation sectors for projects that strengthen competitiveness and enhance the environment. NIB has the highest possible credit rating, AAA/aaa, with the leading rating agencies Standard & Poor’s and Moody’s.
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