BELARUS NEWS AND ANALYSIS

DATE:

16/01/2007

EBRD adopts new two-year strategy for Belarus

MOSCOW, January 16 (Itar-Tass) - The Board of Directors of the European Bank for Reconstruction and Development has adopted a new strategy for Belarus, the EBRD said in a press release on Tuesday.

The EBRD plans to deepen its involvement with the private sector over the next two years, particularly in the area of microfinance and small business lending.

However, it once again reiterated serious concerns over political developments, saying there had been significant backtracking in some aspects of democratic governance, the Prime-Tass economic news agency said with reference to the press release.

Experts say although macroeconomic management had improved, there had been very little progress in structural and institutional reform.

The Bank will continue its assistance to Belarus, despite the persistent lack of progress in government policies favouring democracy and market formation, so long as it can contribute to the development of a dynamic private sector and an entrepreneurial class, the press release said.

Source:

http://www.itar-tass.com/eng/level2.html?NewsID=11159221&PageNum=0