BELARUS NEWS AND ANALYSIS
DATE:
08/11/2006
IFC, beverage maker pioneer Belarus private sector
WASHINGTON, Nov 8 (Reuters) - Belarus, a tightly controlled former Soviet republic of 10 million people, will allow a World Bank-backed brewer and beverage maker to open a juice factory and retail network nationwide, officials said on Wednesday.
The World Bank's private sector arm, International Finance Corp., signed on Wednesday a $35.5 million loan with U.S.-based beverage and real estate conglomerate Detroit Investments Ltd. and took a $4.5 million stake in its Belorussian subsidiaries.
"Belarus has an emphasis on state economic policies and state-owned enterprises, so the importance of these investments is in establishing the credibility of the private sector and generating a tremendous impact on consumers' lives," IFC agribusiness director Jean-Paul Pinard said at the signing.
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