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EDB develops crisis management program for EAEU countries

«When the pandemic story began, we proactively addressed the governments of the countries with a request to report on priority projects, which require urgent concessional financing in the current conditions. Do you know what was the only country that gave an answer? Belarus,» the Chairman of the Board of the Eurasian Development Bank Andrey Belyaninov told in an interview with Kommersant.

He noted that the bank has developed a crisis management assistance program for the EDB member states. They proceeded from the fact that the fall in GDP of Armenia will be 2.2 percent, Belarus — 3.7 percent, Kazakhstan — 1.5 percent, Kyrgyzstan — 0.3 percent, Russia — 3.4 percent. A growth of 4.4 percent is expected in Tajikistan.

«As you see, the situation is different, and the economies are different. Therefore, the support measures are different: the revision of loan payment schedules, as the EDB did for the Russian-Kyrgyz Development Fund, and the introduction of a moratorium on interest payments, the provision of short-term capital. We are working on the possibility of providing financing in the national currency for all projects exposed to currency risks,» Andrey Belyaninov told.

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