Business news

MINSK, 14 September (BelTA) – The European Bank for Reconstruction and Development positively evaluates the implementation of the country strategy in Belarus in 2016-2019. The statement was made by Anthony Bartzokas, member of the EBRD Board of Directors delegation, as he summed up results of the delegation’s visit to Belarus on 14 September, BelTA has learned.

Anthony Bartzokas praised the good organization of the visit, which had become the first visit after the country strategy was adopted. “We’ve had an opportunity to meet with representatives of the central government, the central bank, civil society, and our clients. We’ve come up with rather a comprehensive picture,” he said. “First of all, it was important for us to understand the degree of effectiveness of our new strategy for Belarus. We’ve developed a very positive impression in that regard. The EBRD management had responded to the Board of Directors request and had introduced the strategy in Belarus in a very effective manner. The EBRD office has expanded its activities and has become more open to new cooperation options.”

The expert also underlined that an analysis of the macroeconomic situation in Belarus and falling inflation figures indicate that new conditions for doing business and making investments had been enabled in the country. He mentioned workforce productivity and competitive ability as problems. “But it seems to us that both the business community and the government have developed a pragmatic approach to responding to these evaluations. We are leaving the country with a positive impression about where interaction between the EBRD representative office and government agencies in Belarus is going,” concluded Anthony Bartzokas.

Belarus has been a member of the European Bank for Reconstruction and Development since 1992. Since the bank started working in Belarus, it has invested over €2 billion in projects in various branches of the national economy. The EBRD’s country strategy for Belarus for the 2016-2019 period focuses on assisting with pre-privatization in the financial and industrial sectors of the economy and on providing support to small and medium-sized private businesses as well as the private sector as a whole. With the EBRD’s assistance Belarus continues implementing existing projects and preparing new ones in the spheres of water supply and wastewater disposal, energy efficiency, and transportation.