General information on the cooperation with international organizations

THE WORLD BANK

BELARUS AND THE WORLD BANK

The Republic of Belarus considers the World Bank as an important and serious partner with significant investment resources along with the best practices and knowledge.

Membership in the Bank allows to attract concessional financial resources for the implementation of investment projects and grants in priority areas of socio-economic development, as well as to receive an analytical and advisory assistance in the relevant areas for the Republic of Belarus.

During the cooperation with Belarus the World Bank invested more than 1.5 billion US dollars. Over recent years the level of investment cooperation has reached a qualitatively new stage. The current portfolio of joint projects was significantly expanded.

INTERNATIONAL FINANCE CORPORATION

International Finance Corporation (IFC), a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector in developing countries.

Established in 1956, IFC is owned by 184 member countries, a group that collectively determines its policies. With a global presence in more than 100 developing countries, IFC helps companies and financial institutions in emerging markets to create jobs, generate tax revenues, improve corporate governance and environmental performance, and contribute to their local communities.

IFC works to create markets that give new opportunities for the private sector, thus fostering sustainable economic growth in the countries where it operates.

IFC AND BELARUS

In November 1992, Belarus was the first CIS country to sign the required agreements and become a member of the World Bank Group and IFC. This opened the way to a full-fledged cooperation with these leading international organizations.

Belarus has developed a long-standing constructive collaboration with IFC. This international finance institution is one of the largest investors, and a major expert in reforms to improve the regulatory environment for businesses in Belarus. Sustained partnership with IFC enabled Belarus to use its resources and make a successful transition to a more market-oriented economy.

As of January 1, 2020, IFC’s total investments in Belarus reached over $850 million in 60 projects for private sector development, on-lending through commercial banks to small and medium-sized businesses (SMEs), energy efficiency, and more. IFC’s short-term and long-term finance supported opening access to new markets, expanding foreign trade and increasing access to finance for the Belarusian business.

IFC has also provided advisory assistance to the Government of Belarus in improving the investment climate to support foreign direct investment (FDI) promotion, streamlining business regulations, supporting and creating an enabling environment for SMEs, creating an e-Registry of administrative procedures, and improving access to finance for businesses by strengthening the secured transactions framework in Belarus.

IFC has concluded the following four Cooperation Agreements to provide advisory assistance to the Government in 2019–2022:

·        With the Ministry of Antimonopoly Regulation and Trade — to create and develop a competitive environment, promote investment, and increase the capacity of the Ministry and other government authorities;

·        With the Ministry of Economy — to support SME development, improve business regulations and implement joint actions to promote business and economic growth;

·        With the National Bank — to facilitate movable asset-based lending to improve access to finance for SMEs and ensure their sustainable growth in Belarus; and

·        With the State Committee for Standardization (Gosstandart) — to implement joint actions to improve the quality infrastructure, in particular to help the Belarusian accreditation system achieve international recognition in order to reduce business export-related costs, and create a database of accredited conformity assessment bodies.

The purpose of the current World Bank Country Partnership Framework (CPF) for Belarus is to support sustainable and inclusive growth and improve living standards by focusing on three interlinked focus areas: (a) creating opportunities for the private sector to grow and for more efficient public investment; (b) maintaining the country’s human capital edge; and (c) improving the contribution of infrastructure to climate change management, economic growth, and human development.

EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT

BELARUS AND EBRD

The Republic of Belarus became a member of the EBRD in 1992 and owns 6002 shares of the Bank amounting to 60.02 million euros and constituting 0.2 percent of the Bank’s share capital.

Over the history of cooperation with Belarus the Bank carried out the operations aimed at the development of the important directions amounting to more than 1.9 billion euros, which have been used to support small and medium enterprises and private sector development, building roads, improving energy efficiency, development of water supply and sewerage systems.

 NORDIC ENVIRONMENT FINANCE CORPORATION (NEFCO)

 BELARUS AND NEFCO

The beginning of cooperation with NEFCO is linked to the signing of the Framework Agreement between our country and the Corporation (signed on 20 January 2015 in London). The Framework Agreement was ratified by the Law of the Republic of Belarus of 6 July 2015 № 279-З and entered into force on 11 August 2015.

The Framework Agreement sets out general principles, conditions and legal framework for long-term cooperation between Belarus and NEFCO while using financial resources (equity investments, loans, guarantees) provided by NEFCO and relevant for the Republic of Belarus.

 UNDP AND THE UN SYSTEM AGENCIES

The Republic of Belarus attaches great importance to the work of the UN agencies and their contribution to the socio-economic development of the country.

In 2015 the Government of the Republic of Belarus in collaboration with the UN agencies developed and signed the United Nations Development Assistance Framework (UNDAF) devoted to providing assistance to the Republic of Belarus with the aims of development for 2016-2020. UNDAF is the second document that defines the joint strategy of the United Nations system organizations and the Republic of Belarus.

UNDAF provides activities in four strategic areas corresponding UN mandate and comparative advantages of its agencies along with key national priorities that are set out in the National Strategy for Sustainable Socio-Economic Development of the Republic of Belarus adopted until 2030. The general direction of activities and cooperation between the UN system organizations and the Government of the Republic of Belarus for the next five years is defined by thefollowing priorities:

1. Inclusive, operational and accountable governance;

2. Sustainable economic development;

3. Preservation of favorable environment and sustainable management of natural potential, based on the “green” economy principles;

4. Sustainable development of human capital: health, education, social inclusion and protection, integrated development of post-Chernobyl.

UNDP

UNDP launched its activities in Belarus in 1992, the UNDP Resident Representative is also the UN Resident Coordinator that represents the entire UN system and coordinates the activities of the United Nations agencies in Belarus.

UNDP’s mandate in Belarus is determined by the Agreement between the Government of the Republic of Belarus and UNDP of 24 September 1992, stipulating that the UNDP is established “to support and supplement national efforts at solving the most important problems of economic development and to promote social progress and better standards of life”.

Within the framework of cooperation with the UNDP the Government of the Republic of Belarus approved Country Programme of the UNDP for 2016-2020, which was developed by the UNDP with a view to complement UNDAF (that is also approved by the Government of the Republic of Belarus).

Under the new Country Programme for Belarus UNDP’s activities will contribute to: (1) strengthening of effective public administration systems based on the principles of sustainability, accountability and responsiveness;
(2) the formation of “green growth”, taking into account the interests of all stakeholders; and (3) ensure that vulnerable groups have universal access to basic services.