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International Finance Corporation set to increase investment in Belarus

 

The International Finance Corporation (IFC) plans to increase its investment in Belarus, Max Yacoub, head of the organization's office in Minsk, said at a meeting with Prime Minister Mikhail Myasnikovich on July 14.

The IFC has invested roughly $320 million in Belarus so far, Mr. Yacoub said.

He stressed that cooperation between the IFC and the Belarusian government in securing a favorable investment climate in the country could help attract other investors.

According to Mr. Yacoub, the IFC has drawn up a program to improve Belarus' investment environment. The attraction of high-quality investors to Belarus is expected to promote the creation of new jobs, boost exports, help diversify the economy and grant businesses access to the world's best practices and know-how.

The IFC fully supports the Belarusian authorities' efforts to improve the investment environment, he said.

The IFC has provided loans to Belarusian banks for lending to small and medium-sized businesses and to exporters and importers, as well as invested in the Bank of Small and Medium-sized Business, the Dzednava brewery and a juice plant in Babruysk. //BelaPAN