LONDON (Reuters) – The administration of the European Financial institution for Reconstruction and Improvement (EBRD) is pushing to halt personal sector investments in Belarus because of the troublesome backdrop within the nation, a supply with data of the matter stated on Wednesday.

“In present circumstances, EBRD administration suppose it’s inappropriate to think about any new tasks in Belarus – whether or not these are personal or public sector tasks,” the supply advised Reuters.

Nonetheless, it was all the way down to the financial institution’s board to take a proper resolution on such a transfer, the individual added.

In July, the financial institution’s President Odile Renaud-Basso confirmed that the board had determined to not do any additional public sector tasks within the nation, although she stated on the time that non-public sector tasks would proceed.

The EBRD at present has 914 million euros ($1.03 billion) of investments throughout 65 tasks within the nation, of which 60% are within the personal sector.

Many of the tasks had been signed earlier than August 2020, when President Alexander Lukashenko tightened his grip on the nation in a disputed election that sparked mass protests and recent sanctions from western capitals.

The following EBRD board assembly is scheduled for November 24.

($1 = 0.8838 euros)