The New Strategy
The European Bank for Reconstruction and Development (EBRD) has adopted a new four-year strategy for Belarus. “The strategy notes that in the recently changed regional geopolitical environment Belarus has engaged in greater international openness and become more willing to discuss domestic political developments,” the EBRD noted.
The document reads that these positive developments, as well as the international response to these steps, “have created a new political context for the Bank’s operations in the country and provide an opportunity for enhanced engagement with the Belarusian authorities.”
The EBRD is prepared to support concrete reform initiatives of the government with investments and technical assistance to develop the private sector, promote privatization and enhance the sustainability of public infrastructure through commercial solutions. The strategy identifies a number of strategic areas. Enhancing the competitiveness of the real economy is one of them. “The EBRD will seek to provide long-term debt and equity financing to local and foreign investors as well as support SME lending through the development of a sustainable commercially oriented banking sector. It will continue providing advice to SMES to strengthen their competitiveness,” the Bank said.
Another strategic area is the enhancing of the sustainability and service quality of public infrastructure. “The EBRD will encourage private sector participation in the provision of public infrastructure services. The Bank will also seek to support well-defined reform initiatives of the government in the municipal, transport, power and energy sectors through its investments and technical assistance. Implementing these directions is consistent with the Bank’s Green Economy Transition ( GET) approach,” the Bank said.