The EU Comprehensive Plan of Economic Support to democratic Belarus developed with the participation of Sviatlana Tsikhanouskaya and her representatives has been adopted by the European Commission.
The implementation of the plan will begin with the onset of democratic changes in Belarus. The reforms will create conditions for economic growth, economic resilience, and job creation.
The announced amount of funding is the first publicly announced contribution of the international community to new Belarus. At the initial stage and further on, we expect the participation of international financial institutions (primarily the IMF, World Bank, International Finance Corporation, and Western governments.
According to Sviatlana Tsikhanouskaya's Office estimates, the total volume of international financing – taking into account the EU Plan, the IMF stabilization program, assistance from the World Bank, and other IFIs – will amount to about $ 10 billion for the first 3 years of democratic Belarus.
The main provisions of the plan include:
– investment package for 3 billion euros (USD 3.6 billion);
– the share of grants (non-refundable) is estimated at USD 500 million;
– Belarus-EU high-level Investment Forum to showcase the opportunities for a free, democratic, open and reform oriented Belarus;
– EU High-Level Donor Meeting to mobilize additional EU grant resources required to finance and mobilize EU expertise and investments to support the economic transition.
The funds will be used to support structural reforms and improve competitiveness, including:
– economic governance and private sector development;
– сomprehensive and holistic rule of law and judiciary reform;
– human capital development including social protection sphere and health system reforms;
– an inclusive, transparent, and accountable administration, including by enhancing the role of civil society in decision-making and support for a free media;
– investing in sustainable infrastructures and the green and digital transformation.
