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28 Dec 2015

World Bank may increase its investment portfolio in Belarus

MINSK, 28 December (BelTA) – The World Bank’s investment portfolio in Belarus can be increased. Relevant arrangements were discussed during a meeting between Belarus’ Deputy Prime Minister Anatoly Kalinin and World Bank Country Manager for Belarus Young Chul Kim, BelTA learned from the press service of the Belarusian government.

During the meeting the parties summed up the results of the projects in housing, utility services and transport implemented in 2015 with the financial support from the World Bank, and discussed the matters requiring speedy solutions to keep the dynamics

Young Chul Kim noted considerable progress in the utilization of the funds assigned by the World Bank and highly appreciated the work of the government and public bodies in implementing the projects, which will have a positive impact on further decisions to increase the World Bank’s investment portfolio in Belarus.

The head of the mission also commended the high professional level of the Belarusian road building organizations and the European quality of their work and suggested considering the possibility of involving domestic organizations in the World Bank-financed projects to upgrade the road transport infrastructure in Ukraine.

The parties paid special attention to promising avenues of cooperation. They discussed the possibility of implementing projects to upgrade customs checkpoints, build facilities for purification of drinking water and removal of iron, promote the use of local fuels and sources of energy (including renewable ones), and encourage the use of local fuels at municipal boiler houses.

Besides, Anatoly Kalinin invited Young Chul Kim and WB experts to pay a working visit to the Belarusian city of Lida in January 2016 to discuss matters of the World Bank's funding for the construction of facilities to recycle municipal waste and produce refuse derived fuel (RDF).

Anatoly Kalinin thanked Young Chul Kim for his efforts to step up the cooperation with Belarus. The World Bank provides Belarus with considerable assistance in developing the infrastructure and utility system of its cities and towns.

After the meeting, Anatoly Kalinin tasked the Belarusian Housing and Utilities Ministry and the Transport Ministry with devising the measures to carry out the reached agreements and ensure practical cooperation with WB experts in the implementation of investment projects.

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