MINSK, 28 April (BelTA) – The investment portfolio of the World Bank's current projects in Belarus may reach $1.2 billion in 2017. The statement was made by Young Chul Kim, World Bank Country Manager for Belarus, during the presentation of the latest economic review of Belarus on 28 April, BelTA has learned.
The expert stated: “We have considerably increased the portfolio of our projects in Belarus.” He pointed out that two years ago five projects worth $465 million were being implemented in Belarus with assistance of the World Bank. This year ten projects worth $998 million are being implemented. Asked about lending terms, the official noted they remained the same for Belarus.
Young Chul Kim underlined: “If we can demonstrate to shareholders that Belarus can use up money fast, it will give a reason to talk about giving more World Bank funds to Belarus.”
The World Bank was established in 1944 and is headquartered in Washington, USA. The Bank comprises five organizations: the International Bank for Reconstruction and Development, the International Development Association, the International Finance Corporation, the Multilateral Investment Guarantee Agency, and the International Center for Settlement of Investment Disputes. The World Bank has over 120 representative offices all over the world. Belarus became a World Bank member in 1992.
