Business news

MINSK, 18 September (BelTA) – Phasing out cross-subsidies in housing and utilities services is a positive thing, President of the European Bank for Reconstruction and Development (EBRD) Suma Chakrabarti said in an interview with the Belarus 1 TV channel, BelTA has learned.

The EBRD president views the upcoming transition to full cost recovery for all utilities in Belarus as a crucial step. “First of all, this is important economy-wise, as the money will be spent more effectively. This is also important from the standpoint of politics and society, because creates the awareness of the eventual elimination of cross-subsidies in housing and utilities services. People are beginning to embrace a more responsible attitude towards resources (energy, water, and heat), because they should now think about the prices for all these things,” Suma Chakrabarti noted.

The EBRD’s cooperation with Belarus’ housing and utilities sector is among the bank’s priorities. “We have been doing a lot of work here and we want to be doing even more,” the EBRD president added.

He drew attention to energy efficiency as a global priority. “This is our calling card. We have a goal: energy efficiency projects should account for 40% of our annual business investment by 2020. I would like Belarus to play a major role in helping us achieve this aim,” Suma Chakrabarti summarized.