The EBRD has committed to a 7 year €15 million euro loan to support the modernisation and development of the Belarusian wood processing industry. The latest funding will go a long way to support growth in the wood processing industry in Belarus by financing the construction of a new saw mill in southern Belarus. The new sawmill will be privately owned and built on a brownfield site in the Historical town of Mozyr.

The Mozyr saw mill will be owned by Kaamos Timber (KT) AS of Estonia, it’s expected to create 95 new jobs increasing the yearly production capacity in Belarus to 450,000 m3 of sawn softwood, which is nearly double the current capacity in Belarus

The EBRD has worked with KT for more than 20 years having previously invested in a similar sawmill project in Vitebsk, in northern Belarus.

The European Bank Reconstruction and Development has invested since 1992 nearly €2.7 billion in 118 projects across different industrial sectors in Belarus.