World Bank to invest 270 mln euros in Belarus' economy in 2019

The World Bank will invest 270 million euros in Belarus' economy, Belarusian Ministry of Economy's press office said in a statement after a Belarusian delegation led by Economy Minister Dzmitry Krutoi met with World Bank Vice President for Europe and Central Asia Cyril Muller in Washington, D.C.

Under the deal, a new project designed to expand sustainable energy usage will be added to the World Bank's current portfolio in Belarus by the end of this year. It will be co-financed together with the European Investment Bank, with the total volume of investments at €180 million.

The total volume of investments since 1992, when the World Bank started working in Belarus will exceed €1.8 billion. 

The World Bank's current investment portfolio in Belarus includes eight projects worth about €760 million. Credit agreements on two new projects have been signed this year. One of them provides for additional funding to the tune of €90 million for modernizing the education system. It envisages extensive repairs of 220 schools in all parts of Belarus and the organization of studies into the learning achievements of students.

Another project is designed to make public utilities more effective. It provides for spending €90 million on modernizing 25 water supply and wastewater disposal facilities, on building two municipal waste disposal sites, and on fostering the reformation of the utility industry while focusing on recycling all kinds of waste. The places and facilities covered by the projects are located in all parts of Belarus and aim to reduce interregional differences in living standards, reports the Belarusian state news agency BELTA.