The European Bank for Reconstruction and Development (EBRD) will work out measures to enhance the investment potential of Vitebskdrev. The measures will be included in the memorandum on assistance with Vitebskdrev pre-privatization, which will be signed between the Development Bank and the European Bank for Reconstruction and Development, BelTA learned from the Development Bank.
The memorandum envisages the development of a detailed business plan, which will be used to attract independent international experts under the EBRD program Advice for Small Businesses to share managerial experience with Vitebskdrev.
Founded in 1927, the public joint-stock company (OAO) Vitebskdrev is one of the largest woodworking companies in Belarus. It specializes in forest harvesting and making woodworking products using imported raw materials and its own ones. Since 2016 it has been one of the nine companies in the woodworking industry holding company the Development Bank of the Republic of Belarus runs. The management company of the holding company is BR-Consult, a subsidiary of the Development Bank.