The World Bank Group Board of Executive Directors endorsed the 2018-22 Country Partnership Framework (CPF) for the Republic of Belarus on Wednesday, 3 April.
“We want ordinary Belarusians to have better lives.”
IFC’s core strategy in Belarus is to support sustainable and inclusive growth, improve living standards and business environment.
“A sustained improvement in living standards in Belarus requires structural transformation, with a greater role for market forces and stronger targeted social programs.
The World Bank Group wants ordinary Belarusians to have better lives.
That means more private sector jobs, modern skills and healthcare, and infrastructure which contributes to the economy and the environment,” Alex Kremer, World Bank Country Manager for Belarus.
The strategy is fully aligned with the Program of Activities of the Government of the Republic of Belarus 2016–20.
It is based on the findings and recommendations of the 2018 World Bank Systematic Country Diagnostic for Belarus (SCD).
In the next five years, the World Bank Group’s assistance to Belarus will focus on three aspects:
- Creating opportunities for the private sector to grow and for more efficient public investment;
- Maintaining the country’s human capital edge by improving learning environments in education and the delivery of health services;
- Improving the contribution of infrastructure, economic growth, climate change management, and human development.
The strategy has been developed during extensive consultations with government authorities, business associations, civil society organizations, development partners, academia and beneficiaries.
After Belarus joined the World Bank in 1992, lending commitments to the country have totaled US $1.7 billion.
In addition, grant financing totaling US $31 million has been provided, including programs involving civil society partners.
The active investment lending portfolio financed by the World Bank in Belarus includes eight operations totaling US $789 million.