World Bank approves new Partnership Strategy for Belarus

The Board of Executive Directors of the World Bank adopted a World Bank Group's Country Partnership Strategy for Belarus for 2014-2017 on 6 June.

The new strategy is aimed at helping the country in the areas that directly benefit citizens of Belarus, contribute to the establishment of the global public good and promote good governance, transparency and social accountability, the WB Country Director for Ukraine, Belarus and Moldova Qimiao Fan said. 

The strategy has been developed through extensive consultations with key stakeholders including the government authorities, business associations, civil society, development partners, and beneficiaries. As proposed by civil society partners, instruments will be developed to engage beneficiaries and civil society in monitoring the provision of services in projects supported by the World Bank Group in Belarus. 

In the next four years, the World Bank Group’s assistance to Belarus will be concentrated in three areas: Increasing competitiveness of the economy by supporting structural reforms, including reducing the role of the state, transforming the state-owned enterprises sector, and promoting private and financial sector development and integration into the global economy. Improving quality and efficiency of public infrastructure services, use of agricultural and forestry resources and increasing global public goods benefits. Enhancing human development outcomes through better education, health and social services. 

The private sector can become a key driving force behind long-term growth in Belarus. The IFC intends to contribute to the further development of private business, combining investment and consulting work. Our program in Belarus will focus on supporting the development of trade, improving access to financial resources and increasing resource- and energy-efficiency, with particular emphasis on the development of small and medium-sized business, said Head of the IFC Office in Ukraine and Belarus Rufat Alimardanov. 

The new strategy builds on rigorous analytical work and an analysis of Belarus’s key development challenges, and is aligned with Belarus development priorities and commitments. Based on lessons learned during the implementation of the previous Country Assistance Strategy, the Bank suggests a calibrated approach to financial assistance in sectors with an adequate or improving policy framework, strong implementation capacity, and a track record of successful cooperation in the past. Analytical and advisory support is being provided in important policy areas critical to creating consensus and building capacity in the country. 

The current World Bank investment lending portfolio in Belarus includes 6 operations for a total amount of $547.5 million. Since Belarus joined the World Bank in 1992, commitments to the country have totalled $955 million for 13 projects. In addition, grant financing totalling $23.7 million has been provided to about 30 programs including those with civil society organizations. 

The IFC has invested a total of $388 million in 40 projects in various sectors. At present, the amount allocated by the IFC to implement projects in Belarus exceeds $170 million.

According to law.by