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Economy Ministry, IFC to cooperate to up Belarus’ Doing Business ranking

Photo courtesy of the Economy Ministry

MINSK, 5 June (BelTA) – The Belarusian Economy Ministry and the International Finance Corporation (IFC) have signed a cooperation agreement, the ministry’s press service told BelTA.

Economy Minister Dmitry Krutoi met with IFC Regional Manager for Belarus, Moldova, and Ukraine Jason Pellmar and Head of the IFC Office in Belarus Olga Shcherbina on 5 June. The sides discussed avenues of cooperation as well as promising projects in the sphere of development of the business environment and entrepreneurship support.

As a result of the meeting the sides signed an agreement on cooperation between the Economy Ministry and the International Finance Corporation. Among other things the document provides for implementing joint measures to create a guarantee fund to improve the access of small and medium businesses to finance, measures to encourage female entrepreneurship, introduce the institution of evaluation of the regulatory impact of legal acts, and assist with improving Belarus’ indicators in the World Bank Group’s Doing Business ranking.

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