16 May 2019 20:02

EDB wants to buy stake in Belarus's Belinvestbank

MOSCOW. May 16 (Interfax) - The Eurasian Development Bank (EDB) may acquire a stake in Belarus's state-owned Belinvestbank.

"Issues related to the EDB's participation in the equity capital of OJSC Belinvestbank are being worked out," a statement on the government's website reads.

The proposal initially came from the Belarusian authorities. Earlier, the government discussed the possibility of privatizing Belinvestbank with the participation of the European Bank of Reconstruction and Development (EBRD).

The EDB confirmed its interest in buying a stake. "Talks [with the Belarusian government on this issue] are in the initial stage. It's hard for us to give any detailed information at this point, but we'll be very happy to talk about the results," an EDB representative told Interfax.

Belinvestbank is the sixth-biggest of Belarus's 24 banks by assets. The State Property Committee owns 97.48% of it, with the state owning a total of 99.08%.