World Bank to consider Belarus’ request for development loan next month
The World Bank (WB)'s Board of Executive Directors will consider in late November Minsk’s request for a $200-million development loan, Ivan Velew, the WB permanent representative in the country, told reporters in Minsk on Thursday.
The WB is aware that it is of "great importance" to the Belarusian authorities to receive the funds by the end of this financial year, Mr. Velew said, noting that there were no talks about a possible increase in the requested amount amid Russia’s reluctance to lend Minsk 500-million.
The WB’s loan would support the government’s effort to deepen structural reforms aimed at strengthening social security and increasing the role of the private sector, Mr. Velew said.
It would also be used to support efforts to improve financial discipline, he noted.
The WB plans to make available a total of $260 million for projects to be carried out in Belarus in 2010. Around $60 million is expected to be given for a household waste management project.
In 2009, the WB provided loans totaling $185 million to Belarus. "It is the largest amount of investments given to Belarus in the history of our cooperation," Mr. Velew said.
The WB is aware that it is of "great importance" to the Belarusian authorities to receive the funds by the end of this financial year, Mr. Velew said, noting that there were no talks about a possible increase in the requested amount amid Russia’s reluctance to lend Minsk 500-million.
The WB’s loan would support the government’s effort to deepen structural reforms aimed at strengthening social security and increasing the role of the private sector, Mr. Velew said.
It would also be used to support efforts to improve financial discipline, he noted.
The WB plans to make available a total of $260 million for projects to be carried out in Belarus in 2010. Around $60 million is expected to be given for a household waste management project.
In 2009, the WB provided loans totaling $185 million to Belarus. "It is the largest amount of investments given to Belarus in the history of our cooperation," Mr. Velew said.