MINSK, 28 March (BelTA) – The necessary conditions for impact investments have been enabled in Belarus. The contribution of the private sector to sustainable development and social projects can be more tangible, BelTA learned from Belarusian Deputy Economy Minister Dmitry Yaroshevich during the first forum on social impact investments on 28 March.
Dmitry Yaroshevich said: “Impact investments represent a comparatively new financial tool, which has a considerable potential and enjoys growing recognition all over the world. The development of this direction can provide an additional stimulus for sustainable economic growth.”
According to the source, Belarus bets heavily on the private sector in dealing with social problems by offering an increasing number of opportunities for it. “The government constantly works to enable the most comfortable conditions for doing business and investments. Today's forum should become a good venue for expanding partnership,” Dmitry Yaroshevich believes.
In turn, Acting UNDP Resident Representative in Belarus Zachary Taylor pointed out that impact investments positively influence the social and ecological spheres. “Belarus can only benefit from this approach considering the attention the state pays to these matters,” he believes. “It is important to motivate companies to invest in healthcare, children education, and social projects.”
Zachary Taylor added that new mechanisms already work in forestry industry, alternative energy industry, and other areas.
UN Resident Coordinator in Belarus Joanna Kazana-Wisniowiecki underlined the role of private business in reaching the sustainable development goals thanks to support for projects in the area of healthcare, education, environmental protection, and the development of new technologies.
The first forum on social impact investments has been organized with assistance of the United Nations Development Program and has gathered over 300 participants. The forum is supposed to give an impulse to the growth of social impact investments. It will contribute to more active involvement of the business community in reaching the sustainable development goals. The forum is expected to present foreign practices of financing the sustainable development goals in innovative ways, peculiarities of the market of social impact investments as a commercial industry intent on achieving the SDG goals.More about Economy