Belarus became a member of IFC in November 1992, the first of the newly independent states to do so, and gained access to IFC funds and expertise in private business development. At the invitation of the government, IFC has been actively involved in advisory work in Belarus since 1993 and has implemented a range of advisory services programs. Work began with advisory services for privatization of small businesses.
IFC Strategy in Belarus
IFC focuses its efforts on improving the business environment and investment climate, and on increasing the competitiveness of Belarusian food producers by improving their food safety practices. IFC Advisory Services activities in Belarus are financed by the Swedish International Development Cooperation Agency (Sida), the United States Agency for International Development (USAID), and the Ministry of Finance of Austria.
Along with its Advisory Services programs, IFC is also pursuing investment activities in Belarus. As of June 30, 2012 IFC has invested about $340 million in 36 projects in the financial, general manufacturing, agribusiness, and services sectors.