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WB to discuss new partnership strategy for Belarus in April 2018

Economy 22.02.2018 | 12:26
During the meeting
During the meeting

MINSK, 22 February (BelTA) - The Board of Executive Directors of the World Bank plans to consider a new framework partnership strategy for Belarus in early April. This matter was discussed during a meeting between Chairman of the Council of the Republic Mikhail Myasnikovich and Executive Director at the Board of the World Bank Group Franciscus Godts, BelTA has learned.

Preparation of the framework partnership for Belarus is in the final stage. “This issue has been included on the agenda of the session of the Board of Directors of the World Bank, which is scheduled to take place on 3 April,” said Franciscus Godts. “We will do everything possible for the framework cooperation program for Belarus to be approved,” he added.

Franciscus Godts informed Mikhail Myasnikovich about the planned investments. It is expected that the World Bank will earmark about $570 million in 2018-2022. For its part, the International Finance Corporation is planning to allocate $80-120 million to support the private sector. The exact amount will depend on its needs. According to Mikhail Myasnikovich, this is a very good signal for the Belarusian business. In his words, in late 2017 Belarus adopted a package of normative documents to improve business climate. Franciscus Godts stressed that it is a very positive fact and he will certainly inform the executive directors about it.

The meeting discussed the current social and economic situation in the country. Mikhail Myasnikovich emphasized Belarus' efforts to modernize the industry and create new high-performance jobs. Belarus would appreciate an opinion of the WB experts on the matter, the chairman of the upper house said. He stressed that Belarus does its best to follow the recommendations of the World Bank.

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