OREANDA-NEWS. The Government in association with the National Bank of Belarus (NBB) have been gradually implementing structural reforms, Belarusian Premier Mikhail Myasnikovich said Friday at a meeting with representatives of the Board of Directors of the European Bank for Reconstruction and Development (EBRD).

“I assume that the resources of the EBRD could be a good help in the implementation of these processes,” Myasnikovich said.

In his words, the bank has implemented a number of big projects in Belarus, including those in the sector of road construction, communications and energy. Myasnikovich accentuated the fact that the total volume of lending is by far not small but could have been bigger. He supposes the number of projects has reduced and the credit amounts have grown more modest. “I believe that the reason is rooted in the calibrated approach used by the bank, which hampers our cooperation,” the Belarusian premier said. Myasnikovich said he hopes his opinion will be heard and taken into account by the EBRD.

In turn, Sean Donlon, the EBRD Director for Ireland, Denmark, Kosovo and Lithuania, said he believes there is room for expanding its activity in the country even in the conditions of the calibrated strategic approach. The bank keeps to this strategy today. The EBRD official noted that despite the calibrated strategy the bank representatives were impressed with the results of the joint projects. He added that the EBRD delegation had come to Belarus to hear out Belarus' proposals and consider them at the meeting of the bank's Board of Directors scheduled for next week.

A delegation of the EBRD Board of Directors visited Belarus on September 22-26.

The EBRD delegation held a number of meetings with representatives of the central and local authorities, foreign and local investors, representatives of NGOs to discuss the political and economic development of Belarus.

While in Belarus, the EBRD delegation visited Minsk, Smorgon (Grodno Region), Fanipol (Minsk Region), Baranovichi (Brest Region).

The EBRD is a big investor in Belarus. As of September 1, 2014, the bank allocated over €1.5 billion in support of 66 projects. Of that amount €883 million was invested over the last five years.