Belarus’ economic structure needs consistent and comprehensive reforms, said World Bank Vice President for Europe and Central Asia Ms. Laura Tuck at the briefing in Minsk.
Laura Tuck visited Belarus on September 15-17, 2014 to discuss the implementation progress under the World Bank Group Country Partnership Strategy for Belarus and to exchange views on key priorities emerging in the country’s long–term structural transformation agenda. During the visit, Ms. Tuck and her team held meetings with the head of state Aliaksandr Lukashenka, Prime Minister Mihail Miasnikovich, and other senior officials.
According to her, Belarusan authorities confirmed their interest in expanding cooperation with the World Bank and getting technical assistance in developing a long-term structural transformation strategy.
“Belarus has achieved significant development outcomes, some of which I saw during my visit. It was also clear that Belarus has the potential to become a prosperous and competitive economy. To realize this potential, however, the current economic structure needs consistent and comprehensive reforms,” emphasized World Bank Vice President.
“We see a role for the Bank in advising the authorities and sharing international experience that can inform the design and implementation of policies for structural change, including on reforms in the SOE sector, creating a more dynamic private sector, and strengthening institutions that can support innovation and competition,” – the official webpage of the World Bank quotes Laura Tuck.
Laura Tuck visited the Republican Forest Seed Breeding Center, established under the Forestry Development Project financed by the World Bank in late 1990s. While in Belarus, she also plans to travel to Gomel taking a road rehabilitated under the Road Upgrading and Modernization Project supported by the World Bank.
This is the first official visit to the Republic of Belarus for Ms. Tuck since she became Vice President for Europe and Central Asia in September 2013.
Since the Republic of Belarus joined the World Bank in 1992, lending commitments to the country have totaled US$1.14 billion. In addition, grant financing totaling US$25 million has been provided to programs, including those with civil society organizations. The current investment-lending portfolio includes five operations for a total amount of US$648 million.
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