Business news

MINSK, 13 September (BelTA) – The European Bank for Reconstruction and Development (EBRD) does not intend to return to “a calibrated approach” with regard to Belarus, BelTA learned from EBRD President Suma Chakrabarti on 13 September.

The EBRD’s current strategy was adopted in 2016 and provides for more vigorous interaction not only with the private sector but also with the state administration sector. That strategy was prompted by certain improvements in the country’s political climate as well as the macroeconomic situation and the commercialization of the economy. “A return to previous, more negative times is possible in a number of countries but I don’t see prerequisites for it in Belarus. I am not convinced the EBRD will resume the policy of calibrated approaches,” noted Suma Chakrabarti.

According to the source, the EBRD is intent on moving away from such a policy. “We are just varying our instruments, which are available for various projects in the country. If something in the country does not suit us, we just offer less investment and interact primarily with the private sector. We do more if we see more efforts on the part of the government,” explained Suma Chakrabarti.

The executive pointed out that Belarus’ image had been positively influenced by the country’s contribution to the peaceful resolution of the Ukrainian crisis, by the hosting of major international events of CEI and PACE, and the introduction of the five-day visa-free travel regime.