World Bank to provide Belarus with $125mn loan

Washington – According to Belarusian news agency Belta, the World Bank and Belarus have agreed on a $125 million draft loan for a new energy-effectiveness project.

The draft loan agreement is subject to approval by the Board of Directors of the World Bank before it will be officially signed. Belarus has not gained much aid from the World Bank in recent years and, if approved, this will be one of the largest projects sponsored by this intergovernmental organization in Belarus.

The $125 million World Bank loan will be used to assimilate energy-effective technologies at municipal boiler plants and at major power installations. The project envisages modernizing energy generating equipment in Barysau, Mahiliou, Ruba, Ashmiany, and Rechytsa.

The initiative was preceded by successful accomplishment of previous World Bank projects in Belarus. In particular, the modernisation of social infrastructure (the first loan totalled $22.6 million, the extra loan — $15 million) and rehabilitation of Chernobyl-affected areas ($50 million).

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