EBRD provides €15m loan for Belarus sawmill

2 April 2020

The European Bank for Reconstruction and Development (EBRD) has confirmed that it provide a seven-year €15m loan to build a sawmill near Mozyr, Belarus.

A statement from the EBRD said: “In order to improve competitiveness of the Belarusian woodworking industry, a sawmill will be built in the south of Belarus with the assistance of the EBRD. The new private enterprise will be set up at an existing facility near the city of Mozyr. The new sawmill of the Estonian company Kaamos Timber (KT) AS will annually produce around 250,000 m3 of lumber from coniferous trees”.

The output of the sawmill will be mostly for export. The project is expected to create around 100 new jobs and increase the annual output of lumber from coniferous trees of KT in Belarus to 450,000 m3. “The EBRD has cooperated with the company for over two decades and successfully implemented a similar project in the north of Belarus, in Vitebsk,” the EBRD statement added.