ECONOMIC SUPPORT TO DEMOCRATIC BELARUS #EUforBelarus #strongertogether
OUTLINE OF THE COMPREHENSIVE PLAN OF ECONOMIC SUPPORT TO DEMOCRATIC BELARUS Once Belarus embarks on a democratic transition, the EU will ensure immediate and longer-term support to help it stabilise its economy, reform its institutions to make them more democratic and able to deliver benefits for citizens and society as a whole. These changes are the basis to undertake successful economic reforms to increase the economy’s resilience, growth potential and job creation. To this end, the EU stands ready to mobilise a substantial investment package for Belarus of up to €3 billion - the comprehensive plan of economic support to democratic Belarus. It will be implemented through the full range of political and financial instruments closely calibrated and re-enforcing the international financial institutions’ support programmes, particularly the European Investment Bank (EIB) and European Bank for Reconstruction and Development (EBRD). The EU expects that the International Monetary Fund (IMF) and World Bank (WB) would also step up support for the country once a democratic transition takes place in Belarus.
BOOSTING THE ECONOMIC RECOVERY SUPPORTING STRUCTURAL REFORMS THROUGH DIRECT FINANCIAL SUPPORT AND STRENGTHENING COMPETITIVENESS THROUGH A TRANSITION PACKAGE
Mobilisation of EU Macro-Financial assistance to help restore macro-economic stability. Mobilisation of a comprehensive Transition Package. Priority actions would target reforms in: Host an EU-Belarus High-Level Investment • economic governance and private Forum to leverage and expand investment and sector development trade opportunities in Belarus; and an EU High Level Donor Meeting to mobilise additional • comprehensive rule of law and judiciary grant resources from the EU Member States - reform required to support the economic transition. • human capital development • an inclusive, transparent and accountable administration BUILD BACK BETTER: INVESTING IN SUSTAINABLE INFRASTRUCTURES AND THE STRENGTHENING EU-BELARUS RELATIONS GREEN AND DIGITAL TRANSFORMATION In addition and complementary to the Stepping up EIB and EBRD operations and comprehensive plan of economic support, unlocking the Neighbourhood Investment once Belarus embarks on a democratic Platform to leverage substantial investments transition, the EU stands ready to enter for the socio-economic recovery of Belarus. negotiations on a bilateral framework agreement sealing the longer-term relations between the EU and a democratic Belarus.
With these initiatives the EU expects to In partnership with International Implementation of the plan would benefit mobilise up to €1.5 billion in EU loans as Financial Institutions, the EU expects from substantial Global Europe / NDICI well as public and private investments. to mobilise up to € 100 million in grant grant assistance of up to €400 million until funding to leverage through blending and 2027, - including budget support. provisioning of guarantees up to EUR 1 billion of key public and private investments supporting the country’s green and digital transformation, connectivity and access to finance for Belarusian SMEs. IMPLEMENTATION OF THE PLAN
To deliver tangible results to a democratic Belarus and ensure sustainable impact, the EU will support five key flagships:
Flagship 1 Flagship 2 Flagship 3
Supporting an innovative Improving transport Boosting innovation and and competitive economy – connectivity and facilitating the digital transformation, direct support to 20.000 SMEs trade at EU-Belarus borders including an Eastern Partnership IT school in Minsk up to up to €350 million €200 million up to €20 million
Flagship 4 Flagship 5
Supporting a green Investing in a democratic, Belarus - energy efficiency, transparent and accountable waste management and Belarus infrastructures up to up to €100 million €200 million
The EU will use different instruments to support the implementation of this flagships in cooperation with International Financing Institutions: grants, loans, guarantees and blending.