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1 Apr 2015

Belarus expects World Bank’s support in discussing roadmap with IMF

MINSK, 1 April (BelTA) – Belarus expects an active stance and support of the World Bank when the roadmap will be discussed with the International Monetary Fund during the spring session of the IMF and the World Bank in Washington on 17-18 April. The statement was made by Prime Minister of Belarus Andrei Kobyakov as he met with Qimiao Fan, the World Bank’s Country Director for Ukraine, Belarus and Moldova, on 1 April, BelTA has learned.

Andrei Kobyakov remarked that in the current complicated conditions Belarus counts on partnership with the World Bank for the sake of creating new growth points and for implementing economic reforms. “We welcome the measured and individual approach to analyzing the economic situation in our country and are grateful to the World Bank for assistance with developing the roadmap of structural reforms,” said the Prime Minister.

According to Andrei Kobyakov, Belarus appreciates the World Bank’s support with regard to expert aid and the resolution of topical issues in specific branches of the economy. The Prime Minister mentioned the importance of projects relating to the development of road infrastructure, water supply and water disposal systems, and the recycling of solid domestic waste.

The Prime Minister dwelled on two projects — the reconstruction of the Minsk-Grodno motorway and the improvement of the Belarusian customs service’s performance at the Belarusian-Polish border and the project to develop the forestry industry. “These two projects are of great economic importance for the country. They also represent a very good vivid example of cooperation between Belarus and the World Bank,” said Andrei Kobyakov. Now a project designed to develop small and medium enterprises is being worked on. Apart from that, Belarus is interested in implementing a project that will modernize the management of public finances.

Summing up intermediate results of cooperation between Belarus and the World Bank, the head of government noted that this cooperation is about to reach a totally new level. The World Bank’s representative office in Belarus has established partnering relations with central government agencies and administrations in the regions. “It suits us very much and we intend to continue upholding the high level of mutual trust,” said the Prime Minister.

In turn, Qimiao Fan pointed out that the portfolio of Belarus-World Bank cooperation has been doubled over the last few years and the World Bank is interested in advancing the partnership.

Belarus became a World Bank member in 1992. Since then the country has borrowed $1.43 billion. The current investment portfolio includes seven projects worth a total of $938 million.

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