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World Bank to focus on infrastructure projects, skills development in Belarus

Economy 06.12.2017 | 14:22

MINSK, 6 December (BelTA) - The World Bank will focus on infrastructure projects and skills development in Belarus, World Bank Country Manager for Belarus Alex Kremer told the media during the presentation of The World Bank Economic Review on Belarus, BelTA has learned.

With regard to our future cooperation with Belarus, the Board of Directors will consider a new strategy for Belarus in March 2018. This strategy will cover the period until June 2022. The World Bank Group intends to focus on three areas. Assisting in the development of human capital and skills is among them. We plan to work with the education system of the Republic of Belarus. We also want to help the country in the infrastructure sector, Alex Kremer said.

In his opinion, it is the infrastructure sector that has a serious impact on the economy and incomes in the country. In this part the World Bank is planning to invest in water supply and sanitation sector. The International Finance Corporation, which promotes the development of infrastructure with the participation of the private sector, will continue its work as well.

Another area of our focus is productivity, the growth of the private sector and performance of the public sector, Alexander Kremer noted and clarified that improving people's living standards without increasing productivity may lead to macroeconomic difficulties. There are two ways to improve the performance of state-owned enterprises. The first one is privatization, the second is when the state applies the same discipline measures to the state sector as to the private one. The second option is more difficult and demanding, but they can both be considered by such a country as Belarus, Alex Kremer noted.

Alexander Kremer also recalled that recently the country has adopted a package of documents to improve the business environment. He stressed the importance of such legislative measures.

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