OREANDA-NEWS. July 26, 2011. The International Finance Corporation (IFC) plans to increase investments in Belarus in the next few years, the head of the IFC Office in Belarus Max Yacoub said during his meeting with Prime Minster Mikhail Myasnikovich.

According to Yacoub, the IFC has invested USD 320 million in Belarus over the years of cooperation. “I hope investments will increase in the next few years,” he said.

“I believe our cooperation with the Belarusian government to encourage the business community and create a favorable business environment will also prompt other investors to consider Belarus.”

Yacoub also said the IFC in association with the Belarusian authorities had worked out a program to improve the country’s investment climate. He added that the IFC appreciated the efforts of the Belarusian government to improve the investment climate and commended the authorities for creating the National Investment and Privatization Agency.

In turn, Myasnikovich said the creation of the NIPA, efforts of the Economy Ministry and decision to establish the Development Bank were parts of “real work aimed at attracting foreign investments.”

The premier called for joining efforts in creating a favorable investment climate in Belarus and “giving a signal to the international community to invest in Belarus”. “With all due respect for other forms of cooperation, we believe FDI make the core of economic development,” he said.