Business news

MINSK, 8 February (BelTA) – The World Bank intends to allocate $70 million for the thermal rehabilitation of Belarus’ housing stock and construction of biomass-fired boiler stations, World Bank Country Manager for Belarus Alex Kremer told journalists on 8 February, BelTA has learned.

“We have reached an agreement with Belarus’ government to provide over $50 million for the thermal rehabilitation of housing stock in Belarus and construction of biomass-fired boiler stations. In total, $70 million will be disbursed. These investments will reduce the heating costs and limit carbon dioxide emissions,” Alex Kremer said.

In March 2018, the World Bank Group Boards of Directors is scheduled to see a presentation of a project envisaging an additional $14 million loan to develop the Belarusian forestry sector.

Alex Kremet is taking part in a seminar on the adaptation of Belarus’ forest industry to climate change at Belarusian Technological University. The seminar will feature a presentation of the strategy to adapt the Belarusian forest industry to climate change, increase greenhouse gas absorption, introduce ‘green economy principles’, and also four roundtable discussions. The participants are set to discuss the state of forests, the most significant consequences of climate change, and European approaches to the adaptation of forestry to climate change. Belarus will present a draft strategy of the national plan to introduce green economy principles in forestry for the period up to 2030.