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20 Oct 2015

EBRD working on new strategy for Belarus for 2016-2019

MINSK, 20 October (BelTA) – The European Bank for Reconstruction and Development (EBRD) is preparing a new country strategy for Belarus for 2016-2019. Some practical aspects of the work were discussed at the meeting of Ambassador Extraordinary and Plenipotentiary of Belarus to the United Kingdom of Great Britain and Northern Ireland Sergei Aleinik with EBRD Vice President Philippe Le Houerou, BelTA learned from the press service of the Belarusian Ministry of Foreign Affairs.

The parties discussed the cooperation between Belarus and the EBRD. Besides, Sergei Aleinik and Philippe Le Houerou exchanged views on the current social and economic situation in Belarus and the region.

The European Bank for Reconstruction and Development (EBRD) was founded in 1991. It is the largest investor in the region. Apart from using its own funds, the EBRD relies on considerable volumes of foreign direct investments. EBRD's investments are aimed at fostering structural and industry-wide reforms, the development of competition, privatization and entrepreneurship. EBRD's money is used to enhance financial organizations and legal systems, develop the infrastructure necessary to support the private sector, and introduce a reliable corporate management system for the purpose of dealing with environmental issues among other things. As of 1 June 2015, EBRD's investments in Belarus exceeded €1.7 billion. The money has been poured into more than 70 projects. Most of them are implemented in the private sector.

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