Belarusian Parliamentarians Ratified an Agreement between Belarus and IBRD on an Additional Loan

Belarusian parliamentarians have ratified an agreement between Belarus and the International for Reconstruction and Development (IBRD) on an additional loan for the modernisation of social infrastructure in the country.

When presenting the document in the parliament, the chairman of the State Committee for Standardisation, Valery Koreshkov, said the purpose of the project was to improve conditions in social institutions such as schools, hospital, kindergartens, and senior citizens’ homes, with a focus on the reduction of energy consumption.

The total value of the project is 18.9 million U.S. dollars. The IBRD will provide a loan of 15 million U.S. dollars. Belarus will contribute 3.9 million U.S. dollars.

The loan will be issued for 17 years with a five-year grace period.

The agreement requires Belarus to carry out environmental protection measures and guarantee compliance with anti-corruption recommendations.