A framework partnership strategy for Belarus and the World Bank (WB) through 2022 will be adopted in March 2018, World Bank Country Manager for Belarus Alex Kremer told BelTA. “There are plans to adopt the framework partnership strategy in March 2018. It will include an ambitious loan program,” he said. The International Finance Corporation, a member of the World Bank Group, plans to increase investment in the private sector of the Belarusian economy. “As for the World Bank, investment will go in such areas as higher and secondary education, water supply, sanitation and central heating systems. Our main goal is to improve people’s living standards,” Alex Kremer said.
The World Bank is planning to launch an advisory program for small and medium-sized business in 2018, World Bank Country Manager for Belarus Alex Kremer told BelTA. The head of the WB office said that the World Bank works in a number of areas to help SMEs in Belarus. “With the financial support of the European Union we are launching the advisory program for small and medium-sized enterprises in 2018. The International Finance Corporation plans to invest directly in small and medium-sized enterprises to help them grow and modernize. We are also planning to advise the Belarusian government on improving the regulatory environment governing the private sector,” he said. According to Alex Kremer, in the near future the Development Bank of Belarus will open the credit line for small and medium-sized companies using the WB resources. The World Bank has provided some $60 million for these purposes. “Small and medium-sized companies are a so-called economic driving force. Small and medium-sized businesses can develop innovations and increase labor productivity. In my opinion, it will be small and medium-sized enterprises that will offer well-paying jobs to Belarusians in the first place,” said the World Bank country manager for Belarus.
