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8 Jul 2019

IFC plans to invest $50-60m in Belarusian economy by 2019 year-end

IFC plans to invest $50-60m in Belarusian economy by 2019 year-end
Photo couretsy of iStock

MINSK, 8 July (BelTA) - The International Finance Corporation (IFC) plans to invest $50-60 million in the Belarusian economy by the end of the year, head of the IFC Representative Office in Belarus Olga Shcherbina said in an interview with the STV TC channel on the 7 July, BelTA has learned.

The IFC is considering several investment projects, which are at an advanced stage of preparation. “We want to invest at least $50-60 million before the end of the year,” Olga Shcherbina informed.

The head of the office said that the IFC is keen to increase investment activity, and is exploring projects in the real economy sector. “We are interested in the projects in manufacturing, agriculture, wood processing, food retail. We love to invest in Belarus. We have a very good investment track record here. All projects that we implemented in the country were successful. Belarus is one of the few countries that is default-free. I mean not a single project has defaulted,” she said.

Olga Shcherbina also informed on the progress in the preparation of the competition development program and competition road maps for individual industries. The work is carried out together with the Ministry of Antimonopoly Regulation and Trade. “We are putting a lot of effort in putting together the analytical information. The next step will be the development of sectoral road maps to make sure the program is practice-oriented, feasible,” she said. Work is now underway on the analysis of the situation with competition in every single sector. A series of consultations are currently in progress. It is expected that the program will be completed by the middle of the autumn of this year.

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