On September 8, 2023, the Edict of the President of the Republic
of Belarus No. 282 "On Project Completion" came into
effect in the Republic of Belarus. This Edict aims to address
issues related to the termination of obligations to the
International Bank for Reconstruction and Development, the European
Bank for Reconstruction and Development, and the Nordic Investment
Bank.
Firstly, the Edict defines the possibility of changing the
source of funding, allowing the previous order of executing
contracts for the supply of goods (works or services) to remain as
originally agreed for implementing activities under credit
agreements. This rule applies to 12 credit agreements.
Secondly, such contracts can be terminated, granting clients the
right to independently finish the work.
