Business news

MINSK, 30 June (BelTA) – The possibility of the World Bank taking part in new projects in Belarus was discussed as Deputy Prime Minister Anatoly Kalinin met with World Bank Country Director for Belarus, Moldova, and Ukraine Satu Kahkonen, the press service of the Belarusian government told BelTA.

The World Bank provides finance for the project to reconstruct the M6/E28 Minsk-Grodno motorway (Minsk-Grodno-the Polish border). Anatoly Kalinin said that work is in progress ahead of schedule in all parts of the motorway. The reconstruction of a new part became possible thanks to a lot of money saved by the international tender held in 2016 to buy the services the first part of the motorway needed. The Belarusian government’s proposal met understanding and support on the part of the World Bank then. “We’ve managed to use the loan to reconstruct virtually the entire length of the Minsk-Grodno motorway, nearly 70km more than we planned initially. There are plans to finish the motorway’s reconstruction in 2018, one year ahead of schedule,” said Anatoly Kalinin.

He also suggested discussing new projects, which can be implemented in Belarus with the World Bank’s assistance. Those include the reconstruction of the M7/E28 Minsk-Oshmyany-the Lithuanian border motorway and the M3 Minsk-Vitebsk motorway. The city of Minsk can be switched from surface water resources to underground water resources. Residential buildings in Belarus can undergo heating renovation. “We hope we will not rest on the achieved results and will continue advancing our cooperation and implementing new projects in areas of strategic importance for the country,” concluded the deputy prime minister.

In turn, Satu Kahkonen described Belarus as a reliable borrower. She also mentioned positive dynamics in the implementation of joint projects and readiness to consider the new proposals mentioned during the meeting.

Belarus has cooperated with the World Bank for over 20 years in order to implement infrastructure projects. In this period the World Bank has invested about $1.5 billion in the development of healthcare, education, power engineering, utilities, and transportation. During the meeting the sides noted positive and steady dynamics in the implementation of the projects, which are being implemented in Belarus and are financed via loans from the International Bank for Reconstruction and Development.