English

Belahraprambank, EBRD sign mandate letter

A mandate letter has been signed between Belarus’ Belahraprambank and the European Bank for Reconstruction and Development, BelaPAN reports.

The document was inked during the 19th annual meeting of the EBRD Board of Governors held in Croatia’s Zagreb on May 14 and 15, said the press office of the Belarusian bank.

The signing of the letter is the first step in establishing bilateral cooperation expected to “contribute to the development of new interregional trade relations,” the press office said. “Work on the establishment of cooperation between the financial institutions began several years ago,” the press office said. “The approval on December 10, 2009 of the EBRD’s new three-year strategy for Belarus allowing the international institution to participate in projects of the government sector made it possible to sign the document.”