Business news

30 May 2019

EU to support Belarus’ efforts in raising investment, enhancing competitiveness

MINSK, 30 May (BelTA) – The European Union will support Belarus’ efforts in promoting sustainable development in the regions, including in partnership with the Organisation for Economic Co-operation and Development (OECD), enhancing the country’s competitiveness and raising European investment in the Belarusian economy. Such an agreement was reached at the meeting of First Deputy Prime Minister of Belarus Aleksandr Turchin with Head of the EU Delegation to Minsk Andrea Wiktorin, BelTA learned from the press service of the government.

The meeting took place on 29 May. “The parties discussed international technical assistance and agreed that the European Union will provide support for Belarus’ efforts to promote sustainable development in the regions, including in partnership with OECD, enhance the country’s competitiveness and raise European investment in the Belarusian economy,” the government’s press service noted.

Andrea Wiktorin was glad to mention that the European Union increased financing of Belarus’ projects aimed at modernization and economic growth. The funds are provided by international financial institutions, and as part of regional and bilateral programs.

Aleksandr Turchin welcomed the positive trends in Belarus’ cooperation with the European Union and European financial institutions, including the European Investment Bank and the European Bank for Reconstruction and Development. The cooperation between Belarus and European agencies focuses on entrepreneurship support and renovation of water treatment facilities. Aleksandr Turchin informed Andrea Wiktorin about the priority areas of work of the Belarusian government in the social and economic fields, and the projects that need EU’s technical assistance. According to Aleksandr Turchin, it is important that the European Union keep providing loans to Belarusian SMEs through Belarusian banks.

Aleksandr Turchin noted that Belarus would like to raise resources of the European Investment Bank to implement socially important projects in healthcare.