Vocabulary notes:
hard loan, n — твёрдый (устойчивый) заём,
soft loan, n — льготный заём,
current rate, n — текущая ставка,
concessionary rate, n — ставка с предоставлением скидки,
affiliate, n —дочерняя компания, филиал,
take into account, v — учитывать,
fertility rate, n — коэффициент (уровень) рождаемости,
nutrition, n — питание, пища,
more even income distribution — более равномерное распределение доходов,
scarcely, adv — не; едва ли; вряд ли, trickle clown, v — просочиться,
thrust, n — упор,
perish, v — погибать, умирать,
retain, v — сохранять,
hard-headed, a — практичный, трезвый,
come under fire, v — служить мишенью нападок,
supersonic, a — сверхзвуковой, deterioration, n — ухудшение,
for one's sake — ради кого-либо,
maintain that, v — книжн. утверждать (уверять), что… impact, n — влияние, воздействие,
modest, а — умеренный, скромный,
beware, v — остерегаться,
overestimate, v — переоценивать,
offensive, n — наступление,
flood markers with cheap goods — наводнить рынки дешёвыми товарами.
Questions for discussion:
What is the main function of the World Bank?
What is the scale of the World Bank operations?
What important changes have taken place in the lending policies of the World Bank?
How can a lower and more acceptable fertility rate be achieved in a poor country?
Can you give any examples of 'poor', 'developing' and 'middle-income' countries?
What is the World Bank criticized for?
What kind of projects has the World Bank assisted in Belarus?
What are the prospects for further cooperation with our country?
World Bank Grants to Belarus
Year 2004
GEF grant for enabling activities related to the implementation of the Stockholm Convention on POPs ($499,300)
Year 2004
$50,000 ESMAP grant to improve energy efficiency through operation of Energy Servicing Companies and options of strengthening the energy efficiency program
Year 2003
$996,599 PHRD Grant to test opportunities for greenhouse gas emission abatement through energy efficiency and renewable energy utilization in the supply of heat and hot water to social sector building and to develop and implement emission standards for biomass-fired boilers, thereby removing an institutional barrier to broader introduction of energy supply based on biomass fuel.
Year 2002
$45000 InfoDev Grant for !CT Infrastructure and E-readiness Assessment
Year 2001
$595000 PHRD Grant for p eparation of IHV/AIDS/TB project
Year 2000
$286 350 IDF Grant for Strei gthening the Policy-making and Analysis in the Ministry of Social Protection
Year 1999
$100,000 InfoDev Grant for diagnostics of the critical systems Y2K compliance
Year 1998
$96,000 Italian Trust Fund Grant for Macroeconomic Advisory Assistance
$69,000 Italian Trust Fund Grant for Economic Advisory Assistance for Subsidize Policy
$122.000 PHRD Grant for preparation of Social Sector Energy Efficiency Project
Year 1997
$6.9 million GEF Grant for Ozone Depleting Substances Phase-out Project
$200,000 Italian Trust Fund Gran' for Public Procurement Training
$620,000 PHRD Grant for preparation of Water Sector Development Project
$49,000 PHRD Grant for Belarus CEM//MOU dissemination
Year 1996
$480,000 IDF Grant in support of business-related legal reform
Year 1995
$150,000 PI-IRD Grant for preparation of Social Sector Energy Efficiency Project
Year 1994
$100,000 IDF Grant on Public Procurement legislation
$195,000 IDF Grant on Urban Land Cadastre system
$505,000 PHRD Grant for preparation of Pripyat Priority Infrastructure Project
$497,000 PHRD Grant for preparation of financial/organizational aspects of energy sector loans
$375,000 PHRD Grant to identify and promote potential collaborations between Belarus enterprises and foreign partners
Year 1993
$350,000 IDF Grant on Privatization and Banking
$923,000 PI-IRD Grant for Labor Market and Social Protection reform (introduction of modernized, periodic household survey
$848,000 PHRD Grant for preparation of Private Enterprise Development Loan
Year 1992
$1 million GEF Grant for Forest Biodiversity Project
World Bank planning to lend Belarus $100 million annually between 2008 and 2011
The World Bank plans to provide about $100 million in long-term loans to Belarus annually to support the country in addressing global environment and energy challenges.
A new country assistance strategy for Belarus for the period between 2008 and 201 1, which provides for the loan program, was discussed by the World Bank's Board of Executive Directors, according to the World Bank's office in Belarus.
The financial institution expects the lending to "enhance the competitiveness of its economy to assure rising incomes," and protect "the welfare of the most vulnerable over the next four years."
In addition, the WB Board of Directors approved additional financing of $15 million for what is called the Social Infrastructure Retrofitting Project to be carried out in Belarus. The loan will be used to improve functional and health environments of social sector facilities across Belarus, with particular emphasis on improving energy efficiency.
The initial loan of $22.6 million for the Social Infrastructure Retrofitting Project was approved in 2001. According to the WB office, about 600 schools, kindergartens, hospitals, and outpatient clinics were renovated under the loan in all of the country's six regions, resulting in a 20-25 percent reduction in energy consumption.
The additional funding will go toward similar projects at 140 schools and hospitals across Belarus, including window and boiler replacement, wall and roof insulation, and the installation of energy efficient lighting.
"The Government of Belarus has identified three priority areas where World Bank financial support is needed including improvement of energy efficiency, ensuring quality of water and reliability of water supply systems, and environmental conservation and waste processing. The approved loan will contribute ib the government's efforts to improve the quality and cost-effectiveness of services for Belarus' citizens," Paul Bermingham, World Bank country director for Belarus, Moldova gnd Ukraine, was quoted as saying.
(Natallya KAROTKAYA)
Questions for discussion:
What are the World Bank long-term loans aimed at?
What does the financial institution expect the lending to do?
What was the Social Infrastructure Retrofitting Project targeted at?
What did it result in?
Where will the additional funding go?
What three priority areas has the Government of Belarus identified for the World Bank financial support?