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18 Jun 2018

Belarusian MPs eager to use World Bank analytical instruments

MINSK, 18 June (BelTA) – Belarusian parliamentarians will use World Bank Group analytical instruments as part of their lawmaking work. The relevant statement was made by Chairman of the Economic Policy Commission of the House of Representatives of the National Assembly of Belarus Vladislav Shchepov before Belarusian parliamentarians met with World Bank Country Manager for Belarus Alex Kremer on 18 June, BelTA has learned.

Vladislav Shchepov said: “Today’s meeting has been arranged upon the World Bank’s initiative. We’ve already met with them more than once and pursue two goals today. First, we would like to use analytical tools and the potential of the World Bank Group for lawmaking work. The country’s budget for the year 2019 and for the period till 2021 is being worked out now. Apart from that, we have a number of bills relating to the World Bank’s work in social sphere and education, for example, the Education Code that is being discussed in the lower chamber of the Belarusian parliament. We are interested in the novelties the World Bank suggests.”

The MP also remarked that cooperation with the World Bank is very important for the Economic Policy Commission. “A comprehensive study carried out by the World Bank represents a fundamental piece of work where experts evaluate the trends going on in our country’s macroeconomics, banking industry, the effective management of investments and state enterprises. I think we will find contact points in this field and will even work out a plan for joint work, for joint measures and events. Moreover, in the near future we are going to discuss the legislation in the area of investment and privatization and will invite World Bank Group representatives for joint events,” explained the chairman of the Economic Policy Commission of the House of Representatives of the National Assembly of Belarus.

World Bank Country Manager for Belarus Alex Kremer also mentioned the importance of such meetings with Belarusian MPs. “The World Bank Group is about to launch a five-year framework partnership strategy for Belarus. The document was approved in April. Today’s session is supposed to determine how the entire analytical work the World Bank Group does in the area of macroeconomics and investments can benefit the MPs. It is very important for us because we hope to get as many institutions, agencies, and organizations involved in the dialogue on working out Belarus’ economic policy,” he stated.

The World Bank country manager for Belarus reminded that in line with the new strategy the bank will allocate $570 million to Belarus. There are also plans for additional funding on the part of the International Finance Corporation to the tune of about $120 million. “As far as new avenues of our cooperation are concerned, I can single out two most interesting topics we are going to work together on. First, we will take to the next level the dialogue with Belarusian government agencies about the structural economic changes the country needs. Second, we will support the work aimed at modernizing Belarus’ higher education sector,” he said.

According to Alex Kremer, the higher education modernization project is necessary so that young Belarusians can graduate from universities with the modern skills the labor market needs. “We are indeed interested in the ideas the government has with regard to the updating of university curricula and syllabuses to match the world’s best practices,” he said. The World Bank country manager for Belarus specified that the project is being developed now and there is no list of specific universities, which will participate in the project.


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