LONDON (Reuters) – The European Union’s lending arm, the European Investment Bank, is to stop funding new projects in Belarus as part of the bloc’s response to the disputed re-election of President Alexander Lukashenko, a source close to the bank said on Friday.
“There was a board meeting yesterday where it was made clear,” the source told Reuters on the condition of anonymity, adding that no projects had been in the pipeline.
The EIB has spent a total of 550 million euros ($652.14 million)in Belarus, having signed its first project in the country back in mid-2017.
(Reporting by Marc Jones; Editing by Tommy Wilkes)
