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World Bank to lend $100m to make homes in Belarus warmer

Economy 20.02.2018 | 18:27

MINSK, 20 February (BelTA) – The World Bank intends to allocate $100 million to make homes warmer with the financial assistance of Belarusian citizens, BelTA learned from Mikhail Malashenko, Deputy Chairman of the State Standardization Committee, Director of the Energy Effectiveness Department, on 20 February.

The official noted that a set of regulatory documents has been in development in Belarus since 2017. The documents provide for using money of individuals to introduce energy-effective solutions in the housing sector — from installing individual heating meters to the thermal renovation of walls and the replacement of window blocks.

“We tightly cooperate with the World Bank in this regard. A preliminary agreement has been reached on implementing a pilot project using money of the population. Citizens will compensate for some of the cost of energy-effectiveness measures in the housing sector,” said Mikhail Malashenko. “We will get about $100 million for these purposes. The agreement with the World Bank is supposed to be signed in November 2018.”

Using the borrowed money as floating assets is a condition of cooperation with the World Bank. “We have to learn how to get Belarusians involved in this work because at present they pay about 17% of the prime cost of heating,” said the official.

As a way to reduce the prime cost of heating energy Mikhail Malashenko mentioned the construction of energy sources, which will use locally available kinds of fuel.

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