The International Finance Corporation will allocate $100-120 million to Belarus by 2022

The International Finance Corporation will allocate $100-120 million to Belarus by 2022 to further the development of its private sector, Alex Kremer, World Bank Country Manager for Belarus, said in an interview with the Belarus 1 TV Channel. 

In September 2017 the World Bank Group Board of Executive Directors endorsed a $60 million loan for the Development Bank of the Republic of Belarus to implement a new project “Expanding access to financing micro, small and medium enterprises in the Republic of Belarus”. “We will soon get down to implementing this initiative,” Alex Kremer said. The results of the World Bank Group's Systematic Country Diagnostics in Belarus suggest that nearly half of Belarusian’ workforce is employed by the public sector.

“One of the primary tasks is to help the private sector grow and to assist the public sector in boosting its performance. It is encouraging to see understanding on the part of the Belarusian government,” Alex Kremer said.