IBRD’s annual country investment limit for Belarus up 2.5 times

The International Bank for Reconstruction and Development (IBRD) has increased its annual country investment limit for Belarus 2.5 times, Deputy Economy Minister of Belarus Dmitry Golukhov said at the third Belarusian Conference for Finance and Investment.

This was made possible due to the sustained and fruitful cooperation between Belarus and international organizations in recent years such as the International Monetary Fund and the World Bank, Dmitry Golukhov said.

Thus, the IMF completed its standby program in Belarus during which the two sides developed a set of strategic measures to promote private business, enhance the stability of the banking system, and restore the economic growth. The World Bank has provided Belarus with a loan to mitigate social consequences of the crisis. The analysis of the tendencies both in Belarus and the global economy helped elaborate, jointly with the WB and IMF experts, the ways of economic development in the midterm perspective. They are based on productivity, innovations, entrepreneurship, privatization and FDI. “The work is underway to develop the institutional basis for this, and we pay our utmost attention to it,” Dmitry Golukhov noted. In his words, intensification of contacts with the international organizations is a direct signal for investors.

According to www.belta.by