World Bank planning to lend Belarus $100 million annually between 2008 and 2011
Автор: Natallya KAROTKAYA
The World Bank plans to provide about $100 million in long-term loans to Belarus annually to support the country in addressing global environment and energy challenges.
A new country assistance strategy for Belarus for the period between 2008 and 2011, which provides for the loan program, was discussed by the World Bank’s Board of Executive Directors, according to the World Bank’s office in Belarus.
The financial institution expects the lending to “enhance the competitiveness of its economy to assure rising incomes,” and protect “the welfare of the most vulnerable over the next four years.” In addition, the WB Board of Directors approved additional financing of $15 million for what is called the Social Infrastructure Retrofitting Project to be carried out in Belarus. The loan will be used to improve functional and health environments of social sector facilities across Belarus, with particular emphasis on improving energy efficiency.
The initial loan of $22.6 million for the Social Infrastructure Retrofitting Project was approved in 2001. According to the WB office, about 600 schools, kindergartens, hospitals, and outpatient clinics were renovated under the loan in all of the country’s six regions, resulting in a 20-25 percent reduction in energy consumption.
The additional funding will go toward similar projects at 140 schools and hospitals across Belarus, including window and boiler replacement, wall and roof insulation, and the installation of energy efficient lighting.
“The Government of Belarus has identified three priority areas where World Bank financial support is needed including improvement of energy efficiency, ensuring quality of water and reliability of water supply systems, and environmental conservation and waste processing. The approved loan will contribute to the government’s efforts to improve the quality and cost-effectiveness of services for Belarus’ citizens,” Paul Bermingham, World Bank country director for Belarus, Moldova and Ukraine, was quoted as saying.
A new country assistance strategy for Belarus for the period between 2008 and 2011, which provides for the loan program, was discussed by the World Bank’s Board of Executive Directors, according to the World Bank’s office in Belarus.