The New Strat­egy

Economy of Belarus - - PANORAMA -

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.

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