UNITED STATES (VOP TODAY NEWS) – The World Bank has approved a new partnership framework strategy for Belarus for the period from 2018 to 2022. Sputnik Belarus was informed about this by the bank’s representative office.
The new document is based on the development of infrastructure and improvement of the quality of social services in the country, as well as the strengthening of the private sector.
“The steady increase in the standard of living in the Republic of Belarus requires structural changes, taking into account the strengthening of the role of market factors and the strengthening of social protection mechanisms,” said the head of the World Bank in Belarus Alex Kremer.
He noted that improving the quality of life of Belarusian citizens is one of the goals of the World Bank.
According to Kremer, in the next five years the main directions of the financial organization will be creating opportunities for private sector development, increasing the efficiency of public investment, maintaining human capital and increasing the contribution of infrastructure to economic growth.
The World Bank is an international financial organization established in 1945 to provide financial and technical assistance to developing countries. The headquarters is located in Washington.
Belarus became a member of the World Bank in 1992. Since that time, it has been provided with 1.7 billion US dollars of credit resources, as well as $ 31 million to implement various programs, including grants. Now the investment portfolio of the bank in the republic includes eight projects amounting to almost $ 790 million.