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17 November 2017, 18:23

WB to invest about $570m in Belarusian economy within five years

GRODNO, 17 November (BelTA) - The World Bank will invest about $570 million in the Belarusian economy within five years, World Bank Country Manager for Belarus Alex Kremer said as he met with the Grodno Oblast authorities, BelTA has learned.

Alexander Kramer visited Grodno Oblast on 17 November to examine the status of implementation of some projects and discuss further cooperation.

“About a third of all of our projects are implemented in Grodno Oblast. We inspected one of them, namely the construction of Minsk-Grodno motorway, on our way here. Works are proceeding at a good pace. I am sure that the project will be completed on time,” Alexander Kremer said. In addition, Grodno is carrying out a comprehensive project on the treatment of solid wastes: a waste sorting plant has been built; the system of collection and transportation of municipal waste has been improved.

“Thanks to the support of the World Bank, we resolved a number of problems. For example, we have reached a new level in the field of domestic waste disposal and continue to work in this area. We are also devising a project to produce refuse-derived fuel,” Grodno Governor Vladimir Kravtsov said. He also noted that Grodno Oblast attaches a lot of attention to the issue of improving the quality of drinking water. The problem of high content of iron in water is relevant for rural areas.

Alexander Kramer noted that approximately $70 million will be spent to address the issues with the quality of drinking water and waste management in the country. “In the next five years, the people of the region will feel the benefits of the World Bank projects. We plan to invest in areas such as higher education, general secondary education, and water and wastewater treatment, solid waste management and construction in the energy sector,” he noted.

“We will jointly work to improve the business climate, create better conditions for private investment,” said Alexander Kremer. According to him, about $60 million will be allocated to provide loans to small and medium-sized businesses. In general, around $570 million will be invested in the Belarusian economy within five years.

The projects that might be implemented in Grodno Oblast with the financial assistance of the World Bank include the reconstruction of a secondary school in Voronovo, the purchase of computer equipment and software for nearly 20 healthcare organizations. Investments in the forestry sector are also in the works.

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