Belarus to contribute 25% to the reinsurance capital of the EAEU

The countries of the Eurasian Economic Union are creating a common reinsurance company. The Belarusian share in the authorized capital will amount to a quarter and will be equal at the initial stage to BYN 47.5 million, Sputnik reported.

The Government of Belarus has already determined who will allocate money from the country to the authorized capital of the Eurasian Reinsurance Company. In 2023-2024, the Ministry of Finance will have to propose who will contribute the rest. The full amount is not specified in the document.

With the help of a reinsurance company, the EAEU countries intend to stimulate mutual and foreign trade. Potential insurance capacity (excluding possible expansion) – up to $2 billion. It is expected that the creation of the company will increase the volume of mutual trade in the EAEU by more than $ 6 billion. The full-fledged work of the project should begin in 2023.

At the same time, experts of the Eurasian Development Bank believe that the economy of Belarus will fall by another 5% in the near future.

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Photo: ved24.com