International Finance Corporation intends to support renewable power generation in Belarus

A round table on the topic “The Development of Renewable Energy Sources in the Republic of Belarus” took place in Minsk on December 16, 2016. The event was organized by the International Finance Corporation (IFC).

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The IFC is one of the institutions of the World Bank Group, which has taken on the job of principal office in the field of global development. It is owned by 184 member countries (which codetermine its policy) and supports exclusively private sector in those countries where it is most necessary.

The activity of the IFC is focused on poverty reduction and the creation of opportunities. “People should have an opportunity to overcome poverty and change their lives for the better,” reads the slogan of the institution.

The IFC is also one of the incumbent foreign investors in the Republic of Belarus. According to the data of recent years, the International Finance Corporation in Belarus invested USD 80 million in 2013, USD 158 million – in 2014 and USD 60 million – in 2015.

To activate cooperation in the field of the development of renewable energy sources, the IFC brought together a wide range of participants at the workshop, including representatives of the Energy Efficiency Department of the State Committee for Standardization of the Republic of Belarus, SPA “Belenergo”, RUE “SPC NAS of Belarus for Agricultural Mechanization”, the Association “Renewable Energy”, the European Bank for Reconstruction and Development (EBRD),  CJSC “Modus Projects”, ALC “Eneca”, the international technical assistance project “Removing Barriers to Wind Power Development in Belarus”, etc.

The participants discussed the current state of the Belarusian RES sector and the relevant regulatory and legal framework for its support. In the course of the event the investors were able to learn in more detail about the existing barriers to renewable power generation development directly affecting the risk assessment for the implementation of the projects in this sphere, and to establish contacts with stakeholders (the project “Removing Barriers to Wind Power Development in Belarus”, Belenergo, etc.). The experts of the International Finance Corporation pointed up the significance of the role of global development institutions in the removing of existing barriers.

The round table held indicated a substantial potential of the effective partnership between state and business. The IFC management announced its high interest in the development of renewable energy sources in the Republic of Belarus. At this stage the institution intends to render substantial assistance to private companies in the implementation of projects on the construction of renewable power generation facilities in our country.

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