OREANDA-NEWS. April 20, 2011. Experts of the World Bank (WB) have so far selected three companies for pilot privatization in Belarus – OJSC Barkhim, in the Brest Region, OJSC Brest electromechanical plant, and OJSC Belsantekhmontazh, in Minsk, the director of the State Property Fund with the State Property Committee, Natalya Zhernosek, told reporters on Thursday.

She said the pilot project to sell state stakes in five Belarusian companies in 2010 was not successful, and it was decided to choose other companies to pursue privatization with financial advisors. Belarus simultaneously negotiated with a trust fund a new USD 5 million grant to finance pilot projects.

Originally, there were 10 companies on the list for WB experts to choose from.

WB representatives were also presented 13 companies from the list of OJSCs, in which state shareholdings are supposed to be privatized in 2011, including Belgazstroy, Promsvyaz, Avtomagistral, all in Minsk, Rodoshkovichi ceramics factory, in the Minsk Region, and Brest Region-based Belozersk electromechanical plant.

“WB experts last week visited a number of companies in the Minsk, Brest and Gomel Regions, however, they have taken a timeout to report to WB directors about the final selection of the companies that will be privatization in the scope of pilot projects,” Zhernosek said.

The Belarusian government last year attempted to sell state-controlled shares in five joint-stock companies – Barkhim, Rechitsa textile, Bobruisk Engineering Plant, VolMET, and Lida casting and mechanical plant – however, original and repeated auctions to sell the shareholdings failed, as there were no bids.