OREANDA-NEWS. March 29, 2010. The World Bank (WB) commends Belarus for its economic development and may recommend other countries to use its experience, said Philippe Le Houerou, World Bank Vice-president for Europe and Central Asia, during his meeting with Belarusian Prime Minister Sergei Sidorsky.

“We congratulate you on the significant progress in your economic development over the past decade. You have managed to ensure economic growth that is closer to the fast growth pace recorded in China than Europe. I would like to see how you managed this, and I believe other countries could benefit from your experience.”

The WB noted a dramatic reduction in the poverty level in Belarus and increase in energy efficiency.

“I see that our projects are working very well here, which is a good indicator of the high level of state governance, which is an essential element to develop the private sector,” said Philippe Le Houerou.

It is also planned to discuss ways for Belarus to return to sustainable growth observed in previous years.

In turn, Sidorsky said it was planned to sign joint documents in the housing and utilities sector.

According to previous reports, the WB plans to provide USD 200-250 million in financial assistance to Belarus in 2010.

In late 2009, Belarus received a USD 200 million Development Policy Loan (DPL) from the WB.

Belarus joined the WB in 1992. Since then, the Bank’s lending commitments in Belarus totaled USD 643 million for nine projects; about thirty national programs received grant financing totaling USD 18 million. Belarus is currently using WB financing in four infrastructure projects.