MINSK, 1 April (BelTA) – Belarus has invited the European Bank for Reconstruction and Development (EBRD) to expand cooperation. The suggestion was voiced by Belarusian Prime Minister Mikhail Myasnikovich as he met with EBRD Vice President Andras Simor on 31 March, BelTA has learned.

The Belarusian head of government noted that the cooperation between Belarus and the EBRD has been gaining momentum in recent years. In 2011, some $185 million worth of projects was implemented; in 2012 the figure exceeded $250 million. In the first quarter of 2014, about $100 million was invested in the Belarusian economy. All in all, since 1992 the total amount of investments has reached $1.4 billion. Sixty four projects have been implemented over this time.

According to Mikhail Myasnikovich, the parties could ramp up their efforts on a number of projects. “I think we could consider projects in transportation, forestry, land improvement and many other interesting projects that are the core areas of interest of the bank,” he said. The Premier believes that the partners could implement more projects in power engineering as well.

Mikhail Myasnikovich suggested discussing the need for the EBRD’s political mandate and the so-called calibrated approach, which means that the bank analyzes Belarus’ political and economic situation every year. “I think this prevents the bank from running long-term projects in Belarus,” the Premier said.

First Deputy Premier of Belarus Vladimir Semashko and Economy Minister Nikolai Snopkov visited London and the headquarters of the bank and became very enthusiastic about new cooperation prospects. However, these prospects were not as great in reality. The head of government suggested establishing closer working contacts in addition to official events. The Premier believes that the opening of the bank’s new office in Minsk will facilitate the bilateral cooperation.

“We will listen carefully to the recommendations that will be suggested by executives and managers of the bank,” Mikhail Myasnikovich said.

EBRD Vice President Andras Simor noted that the bank has considerably expanded its presence in Belarus. “As the private sector grows bigger in Belarus, the bank will expand its operations in the country,” he noted.

The EBRD invests in a number of economic sectors in Belarus. Andras Simor believes that new cooperation opportunities might emerge after the implementation of the privatization program in Bealrus.

EBRD operations in Belarus are determined by the current strategy for the country, adopted in March 2013 and focus predominantly on private sector development. Over the past three years the EBRD has nearly quadrupled annual business investments and its portfolio of projects. In 2013 the bank invested an unprecedented ?255 million within the framework of 14 projects and guarantees to commercial banks in line with the Trade Facilitation Program (TFP). In the municipal sector the EBRD's Environmental Infrastructure Facility assists the towns of Baranovichi, Slonim and Vitebsk to improve waste water treatment.

Over 60 Belarusian companies have received assistance through the EBRD’s Small Business Support program, which offers domestic businesses consultancy support aimed at improving their strategic planning, IT systems and quality control management.