PRESS RELEASE

Loan Signing: Belarus Transit Corridor Improvement Project

January 8, 2015


MINSK, January 8, 2015 – The Republic of Belarus and the World Bank signed the Loan Agreement for a US$250 million loan to the Republic of Belarus for a Transit Corridor Improvement Project, following the loan’s approval by the World Bank’s Board of Executive Directors on December 19, 2014. The Loan Agreement was signed by Mr. Alexei Avramenko, Deputy Minister of Transport and Communications of the Republic of Belarus, and Mr. Young Chul Kim, World Bank Country Manager for Belarus.

The project supports improvement of sections of the M6 Transit Corridor linking Minsk and Grodno as part of the national strategy to connect all six Oblast centers to high standard roads. It will help to address border crossing delays at the western border facing Poland by streamlining customs clearance procedures, thereby facilitating growth in trade.


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As a result of the border management enhancement component of this project, the handling capacity of the Bruzgi border crossing point is expected to increase from the current 700 trucks to 1,700 trucks per day. The activities will be complemented by IFC advisory work studying constraints in border clearance procedures and recommending business process improvements.

The project will also support improved road safety and network management through a more market-orientated approach to the development of roadside services and the development of a Traffic and Road Safety Coordination Center.

This is the largest ever World Bank loan to the Republic of Belarus, and the second road transport project that the Bank is currently financing in the country. The ongoing Road Upgrading and Modernization Project, to be completed in 2015, helped to upgrade 53 kilometers of the M5 road forming part of the Trans-European Transport Corridor IX. Introduction of an axle load monitoring and control system is now in progress.

Since the Republic of Belarus joined the World Bank in 1992, lending commitments to the country have totaled US$1.39 billion. In addition, grant financing totaling US$25 million has been provided to programs, including those with civil society organizations. With the effectiveness of this project, the current investment lending portfolio would include six operations totaling US$898 million.


Media Contacts
In Minsk
Irina Oleinik
Tel : +375-17-359-1959
ioleinik@worldbank.org


PRESS RELEASE NO:
2015/ECA/049




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