World Bank considering Belarus’ request for $300m in support for SMEs – Kremer
<p> MINSK, May 26 - PrimePress. The World Bank (WB) is considering the application filed by the government of Belarus for the allocation of $300 million to support small and medium enterprises (SMEs) in the country, World Bank Country Manager for Belarus Alex Kremer said during the online presentation of the WB economic review on May 26. </p> <p> </p> <p> As reported, the WB approved on May 22, 2020 the allocation of €90 million in a financial support package to help Belarus take timely and effective measures of response to the COVID-19 pandemic by strengthening the national health system. </p> <p> </p> <p> Kremer said earlier that the WB links social support programs with compliance with World Health Organization’s recommendations on strengthening legislative measures of social distancing, which, in particular, include the postponement of mass events and reduction in physical presence at workplaces and educational institutions, and the sooner they are taken, the smaller will be the long-term impact of the pandemic and losses of the economy. </p> <p> </p> <p> As reported, the Belarusian government is also negotiating with the European Bank for Reconstruction and Development the allocation of up to $1 billion to support the real sector, including SMEs, through the Belarusian state-owned Belarusbank OJSC, Belagroprombank OJSC, Belinvestbank OJSC and Bank Dabrabyt OJSC. </p> <p> </p> <p> Belarus became member of the World Bank in 1992. Belarus-WB cooperation is currently based on the WB Group Partnership Strategy for 2018-2022 adopted in 2018. According to the Ministry of Economy of Belarus, the WB invested over $1.7 billion in the economy of Belarus in 1992-2019. The current investment portfolio of the World Bank in Belarus includes nine projects totaling $942.71 million. End </p> <p> </p>
2020-05-27
Primepress
World Bank considering Belarus’ request for $300m in support for SMEs – Kremer
MINSK, May 26 - PrimePress. The World Bank (WB) is considering the application filed by the government of Belarus for the allocation of $300 million to support small and medium enterprises (SMEs) in the country, World Bank Country Manager for Belarus Alex Kremer said during the online presentation of the WB economic review on May 26.
As reported, the WB approved on May 22, 2020 the allocation of €90 million in a financial support package to help Belarus take timely and effective measures of response to the COVID-19 pandemic by strengthening the national health system.
Kremer said earlier that the WB links social support programs with compliance with World Health Organization’s recommendations on strengthening legislative measures of social distancing, which, in particular, include the postponement of mass events and reduction in physical presence at workplaces and educational institutions, and the sooner they are taken, the smaller will be the long-term impact of the pandemic and losses of the economy.
As reported, the Belarusian government is also negotiating with the European Bank for Reconstruction and Development the allocation of up to $1 billion to support the real sector, including SMEs, through the Belarusian state-owned Belarusbank OJSC, Belagroprombank OJSC, Belinvestbank OJSC and Bank Dabrabyt OJSC.
Belarus became member of the World Bank in 1992. Belarus-WB cooperation is currently based on the WB Group Partnership Strategy for 2018-2022 adopted in 2018. According to the Ministry of Economy of Belarus, the WB invested over $1.7 billion in the economy of Belarus in 1992-2019. The current investment portfolio of the World Bank in Belarus includes nine projects totaling $942.71 million. End