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Thursday, July 27, 2017

EDB signs memorandum of understanding with Belarusian Railways

The Eurasian Development Bank (EDB) signed a memorandum of cooperation with Belarusian Railways last week that focuses on the upgrade of Belarus' railway infrastructure and rolling stock, and facilitates mutual trade in railway services between the EDB member states.

The memorandum gives EDB the ability to receive an open exchange of information on the company's railway activities. It also calls for mutual consultations on the development of Belarusian Railways' financial investment activities, BelTA reports.

"The cooperation between the EDB and Belarusian Railways has great prospects and will help fulfill the transport potential of Belarus and expand the foreign trade," the EDB press center said, according to BelTA.

Belarusian Railways provides Belarus with nearly 70 percent of all its cargo traffic and 40 percent of its passenger traffic.